Australian-founded startup Data Republic has secured $22 million in Series B funding.
The data sharing platform, headed up by CEO and co-founder Paul McCarney, said the funds will be used as part of its a strategic expansion into Singapore.
The round was led by Singtel Group's corporate venture capital fund, Singtel Innov8, with participation from Singapore entities Singapore Airlines and current investor Qualgro, who has supported the company’s expansion into the region.
Data Republic, which works with many industry players such as Nine and APN Outdoor, was founded in 2014 by McCarney (who features on AdNews' 2018 Ones to Watch list) and director Danny Gilligan. It acts as a ‘data sharing control centre’ for organisations to store, categorise and share data.
The funding round also included investments from current investors Australia and New Zealand Banking Group (ANZ), Reinventure and Ryder Innovation Fund.
ANZ inked a deal with Data Republic in February this year, which sees it not only gain access to the data hub, but also made it a partner.
“Gaining support from major Singaporean businesses like Singtel and Singapore Airlines demonstrates the growing importance of privacy and the increasing global need for technology which supports secure, inter-organisational data sharing across markets,” McCarney said.
“We welcome our new strategic partners and thank existing investors for their continued support of Data Republic’s technology and vision.”
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at email@example.com