French data-sharing platform company Opendatasoft has raised $25m (£18.3m) in funding led by Demeter through its Paris Fonds Vert fund.
The funds are expected to help the company scale its operations and accelerate its international and vertical market expansion plans.
To do this, the firm plans to strengthen its presence in North America by expanding its existing Boston office while boosting its activities in Australia and across Europe to enter new vertical markets such as retail, services and healthcare.
In the last decade, Opendatasoft says it has taken part in over 2,000 projects, working with public and private sector organisations, including Bloomberg, Michelin, Schneider Electric, among others, to help them create real value from their previously under-used data.
“We believe that the role of data is fundamentally changing, both within organisations and across society as a whole, and that it’s becoming everyone's business,” said Jean-Marc Lazard, CEO and co-founder of Opendatasoft. “Thanks to Opendatasoft’s platform, we can all become data people: women and men who consume and use data effortlessly through our channels of choice to enrich our knowledge and lives on a daily basis, just as we do now with other content and information."
The firm also saw participation from a consortium of existing investors, including the Banque des Territoires, and two other new backers, ODYSSÉE Ventures and Eiffel Investment Group.
“We are very happy to support Opendatasoft and its founders as they expand their operations and grow internationally,” added Jean-Charles Scatena, partner at Demeter. “Through this investment by our Paris Fonds Vert fund, Demeter will contribute its expertise and network to help create a world leader that supports the energy and environmental transition.”
