Total amount raised
$46.1 Millions
Latest funding date
01/01/2022
Location
Observable has successfully raised funds through multiple rounds, with the most recent being a Series B round closed on January 13, 2022. The company is backed by notable investors such as Menlo Ventures and Sequoia Capital.
Keep reading to explore the intricacies of Observable's fundraising journey and the investors backing this innovative platform.
What Is Observable?
Observable, founded in 2016 by Melody Meckfessel and Mike Bostock, is based in San Francisco, California. The company operates in the fields of analytics, data visualization, information technology, open source, and software.
With an employee count ranging from 11 to 50, Observable offers a collaborative data canvas for exploring data visually, conducting analysis, and building charts and dashboards. The platform supports real-time collaboration and coding flexibility, making it a valuable tool for cross-functional teams.
How Much Funding Has Observable Raised?
- Series A
- Amount Raised: $10.5M
- Date: November 2020
- Lead Investors: Acrew Capital, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance the collaborative data canvas platform.
- Series B
- Amount Raised: $35.6M
- Date: January 2022
- Lead Investors: Menlo Ventures, Sequoia Capital, Acrew Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop additional features for the platform and support growth initiatives.
Total Amount Raised: $46.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that invests in various stages of companies, focusing on technology and life sciences. They led the Series B funding round for Observable.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Uber, Roku, Warby Parker.
- Sequoia Capital
- Details: Sequoia Capital is a well-known venture capital firm that has invested in numerous successful companies across different sectors. They participated in both Series A and Series B funding rounds for Observable.
- Investment Focus Areas: Technology, healthcare, consumer services, financial services.
- Notable Investments: Apple, Google, Airbnb.
- Acrew Capital
- Details: Acrew Capital is a venture capital firm that focuses on early-stage and growth-stage investments. They participated in both Series A and Series B funding rounds for Observable.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Chime, Exabeam, Pie Insurance.
What's Next for Observable?
Observable stands at the cusp of significant growth, driven by the increasing demand for data visibility and collaboration tools. With a robust platform that integrates data from various sources and supports real-time collaboration, the company is well-positioned to expand its user base across diverse professional roles. The market potential is vast, as more enterprises recognize the value of streamlined data workflows and the ability to make data-driven decisions efficiently.
Future fundraising opportunities appear promising, given the strong investor confidence demonstrated in the recent Series B round. Observable's continued innovation and market expansion could attract further investment, enabling the company to enhance its platform and support its growth initiatives. The success of the current funding round suggests that additional capital could be secured to accelerate product development and market penetration.
However, Observable may face challenges such as competition from other data visualization platforms and the need to maintain user-friendliness while adding advanced features. Ensuring data security and seamless integration with various data sources will be crucial as the company scales. Despite these hurdles, the growing importance of data-driven decision-making and the adoption of digital collaboration tools provide a solid foundation for Observable's future success.
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