Vendia Announces Series A Investment
We're excited to announce that Vendia has raised a $15.5M Series A round, led by Canvas Ventures with participation from BMW i Ventures, Sorenson Ventures, and our existing seed investors, including Neotribe Ventures, Correlation Ventures, WestWave Capital, Hummer Winblad Venture Partners, Firebolt Ventures, and Future\Perfect Ventures. Vendia has raised a total of $20.6M since its incorporation in March of 2020.
The rapid growth in the production and consumption of data and the ever-increasing requirements for consistent and timely data sharing among departments and business partners has created a massive market opportunity for real-time data integration platforms. We're excited to be partnering with our new Series A and our existing Series Seed investors to take advantage of this opportunity, grow Vendia to the next level, and serve our customers even better. With the addition of new capital, Vendia will accelerate its push into new sectors and expand its R&D staffing to enable us to address exciting new use cases, including virtual data lakes, and to extend Vendia Share to additional public cloud platforms to meet customer demand.
Why They Invested
Both our seed and our Series A investors share our appreciation for the challenges companies face in making their data work for them. We call it the dispersed data problem - companies process more and more data with every passing year, but sharing that data effectively, and with appropriate control, is actually getting harder over time. Legacy solutions, like EDI and sFTP can take days to share and reconcile...a hopelessly long time in a world where end user attention spans are measured in mere seconds.
Grace Isford of Canvas Ventures shared her thoughts on the opportunity Vendia represents, "Fortune 500 companies are struggling to share data across internal siloes, let alone share data securely. An increasing pace of regulatory requirements adds further complexity, with nearly 80% of business data living outside of an organization's four walls. After scouring the DataOps landscape, we were impressed by Vendia's turn-key data-sharing solution, enabling organizations to share data immutably at scale—with just a few lines of code. AWS powerhouses Tim Wagner (Lambda's founder) and Shruthi Rao (AWS Blockchain) have joined forces to build a state-of-the-art serverless-blockchain platform that is poised to be the new standard for data sharing."
While Vendia focuses on enterprise and SMB customers for its near-term business goals, we're also excited about another audience: Developers. We learned over the years that successful platforms are built not just on well executed go-to-market strategies, but also on making developers raging fans. Along with the news about our Series A investment, we're also excited to be launching the Developer Preview of Vendia Share, bringing the platform that helped us grow our business (and excite our investors) to every developer. You can read more about our developer preview here.
Building a Partnership
Like any hard-driving startup, we at Vendia are obsessed with serving our customers and achieving business outcomes that create value for our investors. But we're also a culture, and our Kind Humans Policy is a statement about what we will - and what we won't - do in search of business results. We're excited to partner with our Series A lead investor, Canvas Ventures, not just because of their long track record of success, deep understanding of our market, and ability to help us accelerate with capital, but also because of who they are: People who share our values, our vision, and our culture. Our Canvas partners, Paul Hsiao and Grace Isford, and the rest of their team exhibit integrity, kindness, and compassion - making us proud to be a member of their family and to welcome them into ours!
Our Next Chapter
Our seed stage was shorter than we could have imagined, but we've enjoyed the opportunity to operate as a small, closely knit crew. Now we turn the page, fire up our recruiting engine again, and look forward to growing our company and our business into the big shoes we've just been handed!
To all our investors - thank you for your conviction, your trust, and your partnership.
To all our customers - thank you for trusting us to be your partner, we look forward to growing together with you!
-Shruthi & Tim, Vendia co-founders