Funding Investment Manhattan

CB Insights raises $10M to expand R&D and staff

On Monday, CB Insights announced – in a post titled “Not a Unicorn” – that they had raised a $10 million Series A round. CB Insights, if you are not familiar, offers a robust set of tools that provide detailed intelligence on private companies. Here is how the company is described on CrunchBase:

CB insights is the ideal tool for those engaged in private equity, venture capital, corporate development, investment banking, corporate innovation & strategy, angel investment and consulting. Whether it is deal sourcing, due diligence, or market and competitive intelligence, CBI has been created to assist you in discovering the right private company information in the most efficient, comprehensive way.1

The company is set up on a SaaS model. There is a fee to access and use their tools. However, CB Insights does a very good job of publishing the more top-level information and trends on their blog, or through free whitepapers. Just to give you an idea, here are the titles of some of their recent blog posts:

The company, until now, has been revenue funded; with the slight exception of $1.15 million in grants from the National Science Foundation. This round came exclusively from RSTP, a long-time customer of CB Insights. According to Anand Sanwal, one of the co-founders of CB Insights, the fact that RSTP had been a customer for so long played a major part in the decision to accept the funds:

RSTP was a long-time customer who clearly believed in what we were doing and quickly saw the larger opportunity for our data and predictive intelligence. We are excited to work with RSTP to access their expertise and relationships and grow even faster.2

According to the same release, the funding will be used to accelerate various R&D efforts, as well as more than doubling the company’s staff.

  1. CrunchBase, “CB Insights”  
  2. CB Insights Blog, “Not a Unicorn,” 9 November 2015