- User data platform company Inrupt has raised $30 million in Series A funding. These are the details.
User data platform company Inrupt — which was founded by World Wide Web inventor Tim Berners-Lee and John Bruce — announced recently that it raised $30 million in Series A funding. Forte Ventures led this funding round for Inrupt. And existing investors Akamai Technologies and Glasswing Ventures also participated along with new investors Allstate and the Minderoo Foundation’s Frontier Technology Initiative.
With Inrupt, users can store personal data within Personal Online Datastores (PODs). This makes it easier for governments and enterprises to manage user data. The company has contracts with the governments of Sweden, Argentina, and Basque. While the company generated $225,000 in revenue last year, it made $200,000 in revenue this past September alone.
KEY QUOTE:
“I’m thrilled that the first enterprise-ready version of a Solid Server, Inrupt’s ESS, is now available for businesses and organizations. It’s the fruit of two years of work by our outstanding team. These technologies will fundamentally change how organizations connect people with their data and create value together. It’s going to drive groundbreaking new opportunities that not only restore trust in data but also enhance our lives.”
— Tim Berners-Lee
