The global data governance market is expected to grow from $2.1 billion in 2020 to $5.7 billion by 2025 at a CAGR of over 22%. Government regulations around the globe are ensuring that stricter regulations are put in place to govern how data is stored and utilized across organizations. This has helped companies like Collibra establish their presence.
Collibra was founded in 2008 by Felix Van De Maele, Pieter De Leenheer, and Stjin Christiaens. The Belgian company was spun out from Vrije Universiteit in Brussels. The company helps organizations maximize the value of their data across the enterprise by connecting the necessary data, insights, and algorithms to data citizens. Collibra got its first big win when the financial crisis in 2008 forced big banks to follow a new set of data security regulations.
Collibra’s solutions break down data silos and opens organizational data while providing business intelligence, allowing users to find the needed data as well as collaborate and understand the meaning of that data. Its products cover services focus on tools for company data including tools to help customers comply with local data protection policies, store it securely, and plug-ins to conduct detailed analytics. It provides its services to over 450 enterprises and other large organizations like Adobe, Verizon, and AXA .
In February, the company announced its acquisition of Maryland-based OwlDQ. Founded in 2017 by Kirk Haslbeck, OwlDq provides predictive data quality services. Its ML technology suggests corrective actions to the data automatically. The acquisition allows the integration of OwlDQ into Collibra’s data intelligence cloud and its new offering, Collibra Data Quality. The offering provides organizations with the ability to centralize and automate data quality workflows to comply with global regulations. The offering will also streamlines data and analytics processes across the enterprise. Prior to the acquisition, OwlDQ had raised $2.5 million in one round of funding.
Collibra is privately founded and has raised $346.5 million in seven rounds of funding from Index Ventures, CapitalG, ICONIQ Capital, Dawn Capital, Battery Ventures, and Durable Capital Partners. Its most recent round was held April 2020, when it raised $112.5 million in a round led by Durable Capital Partners, ICONIQ Capital, and Index Ventures at a valuation of $2.5 billion. Its valuation has jumped significantly from its valuation of $1 billion during a $100 million funding round held in 2019. While its recent financials are not disclosed, Collibra was estimated to be operating at $100 million annual revenues in 2020.
Collibra is not the only player in the market. Its competitors include Informatica, IBM, Talend, and Egnyte. All of these companies are providing software to bigger enterprises to oversee how the data that companies are collecting is handled. There has been a lot of focus on data privacy with Europe enforcing very strict privacy rules under its GDPR regulation. Recently, the IDC MarketScape recognized Collibra as a leader within the Data Privacy Management Software space for its advanced technology within the space. Collibra’s solutions have been built with security as a foundation.