Enigma was able to secure $4.5 million for its Series A round. Comcast Ventures led the round which was also participated in by American Express Ventures, Crosslink Capital and the New York Times Company.
Based in New York, Enigma is a public data-focused search and discovery platform. It was rolled out in May last year. Through an easy to use interface that links billions of public records through previously disconnected data sets, Enigma makes public data more accessible. Each year, governments, companies and institutions make petabytes of public data, but it is nearly impossible to wade through them and find links among the data. Through its central interface and API to this universe, Enigma is able to address this problem. Data such as FCC licenses, SEC filings, bills of lading, real estate assessments and government spending contracts, among others, can be easily accessed through the platform.
Comcast Ventures Managing Director Andrew Cleland said in a statement about the funding, "Leveraging public data requires an immense investment of time, effort, budget and expertise. We believe in the team's strategy and mission, and look forward to working together with Enigma to help the company redefine the limits of public knowledge."
Because of the reliance of financial institutions, news media, the academe and professional services as on data and information, Enigma targeted them to be their main customer groups when the platform was launched, the statement said.
Before the latest funding round, Enigma secured seed funding amounting to $850,000 from TriplePoint Ventures, CrossLink Capital and other angel investors. It was also able to forge partnerships with Harvard Business School, research company Gerson Lehrman Group and S&P Capital IQ. Enigma can be availed of as a subscription service as well as an API for big data analytics, the statement said.
American Express Ventures Partner Rohit Bodas said in the statement, "Enigma has done a tremendous job building a robust infrastructure for the aggregation of public data."
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