- Flatfile, a company known for a drop-in spreadsheet importer, announced it has raised a $7.6 million seed round of funding led by Two Sigma Ventures
Flatfile, a company known for a drop-in spreadsheet importer, announced it has raised a $7.6 million seed round of funding led by Two Sigma Ventures with participation from previous investors including Afore Capital, Designer Fund, and Gradient Ventures along with new investors HNVR, Work Life Ventures, Quiet Capital, Basecamp Fund, and Soma Capital. And this round of funding coincides with the launch of Concierge — which is its newest product focused on data onboarding technology for large enterprises.
Launched in 2018 by David Boskovic (CEO) and Eric Crane (COO), Flatfile is on a mission to remove barriers between humans and data. And Flatfile’s software products are focused on solving the problem of data onboarding, which is the process businesses use for accepting data from other organizations.
“This problem is so challenging that traditional data companies have ignored it for decades. That leaves data onboarding primarily in the hands of overwhelmed services teams. At Flatfile we’re coupling simple, human-focused experiences with advanced machine learning to exponentially accelerate the ability for organizations to adopt new technology,” said Boskovic.
Flatfile’s initial product Portal serves as an elegant import button that is easily embedded in software applications through a JavaScript snippet. And Hubspot, Toast, Housecall Pro, and among several hundreds of other organizations that rely on Flatfile Portal to provide their users with an intuitive data import workflow.
And Flatfile — which utilizes machine learning — automatically learns how imported data should be structured and cleaned, enabling customers and teams to spend more time using their data instead of fixing it.
“We’re already saving users more than 10,000 hours per month with AI-assisted, self-service data imports,” added Crane. “We knew we could apply that learning to more complex data transactions, where a single data onboarding project today takes weeks or even months.”
Flatfile’s Concierge was designed with enterprise-scale data onboarding in mind. And it provides secure workspaces for collaboration between organizations, allowing customers to manage complex data ingestion challenges for the hundreds or thousands of organizations they serve. Plus Concierge reduces the time and effort required to transmit, normalize, and validate complex data sets in a no-code environment that can be configured in minutes all while retaining the benefits of Flatfile’s underlying data healing API.
“Simplifying data onboarding is just the tip of the iceberg,” explained Frances Schwiep of Two Sigma Ventures — who started her career as a data scientist. “There are an infinite number of ways humans can upload bad data, and it happens all the time. Data sharing and collaboration remains a massive headache and unsolved problem within the enterprise. Flatfile’s Concierge platform has the potential to be an industry-defining solution.”
Using Concierge, implementation and customer service teams no longer have to manually restructure, correct, and email data back and forth with their customers. The days of writing Excel macros, reconfiguring Python scripts, and poring through seemingly endless rows and columns of data seem like days of the past with this technology. And Concierge lends transparency, efficiency, and security to an enterprise data onboarding process from which they have long been missing. And after extensive product testing and research, Flatfile is now actively rolling new customers off of its Concierge waitlist.
