Crunchbase raises $30M more to double down on its ambition to be a 'LinkedIn for company data'

The internet and search engines like Google have made the world our oyster when it comes to sourcing information, but in the world of business, there remains a persistent need for more targeted market intelligence, a way to get reliable data quickly to get on with your work. Today, one of the startups hoping to build a lucrative operation of its own around that premise is announcing a round of funding to get there.

Crunchbase — a directory and database of company-related information that originally got its start as a part of TechCrunch before being spun off into a separate business several years ago — has raised $30 million, a Series C that it plans to use to continue expanding its base of paid subscribers and expanding its product to include more predictive, personalised information for its users by way of more machine learning and other AI-based technology.

CEO Jager McConnell, who has long viewed Crunchbase as the “LinkedIn for company profiles,” said that of the 55 million people who visit the site each year, the company currently has “tens of thousands” of subscribers — subscriptions are priced at $29/user/month varying by size of company contract — which works out to less than 1% of its active users. That’s “growing quickly,” he added, speaking to site’s potential.

Indeed, he noted that since its last round in 2017, when it raised $18 million, Crunchbase has tripled its employees to 120 and has 10 times more annual revenue run rate. It’s also more than doubled its traffic since being spun out.

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