PDL will expand its offerings in fintech, fraud detection, risk mitigation, and investment research and expand its team
People Data Labs (PDL), which builds innovative APIs that empower developers, engineers, and data scientists to build new data-driven products using its 3 billion high-quality B2B data records, has raised $45 million in Series B funding led by Craft Ventures with the participation of Flex Capital.
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PDL, which currently has 80 employees, will use the new funding to double its headcount, with an emphasis on engineering and product professionals as part of an ongoing push into critical verticals. This will include offerings in the fintech space, where PDL will expand its data products to support fraud detection, risk mitigation, and insurance underwriting. The company will also expand its offerings in firmographic data via its insights and company data products for investment research, sales planning, and investor due diligence.
“We see limitless potential in delivering data as a service, and in empowering engineers, data scientists, and developers to build and innovate with that data,” said Sean Thorne, co-founder and CEO of People Data Labs, “In particular, there is a growing need for firmographic insights to understand the labor force and demand for a new layer of consumer identity to support and protect critical services like banking and finance which are increasingly delivered digitally.”
PDL’s data powers internal and customer facing digital products that drive revenue and increase efficiency. PDL data is an essential tool for developers at enterprise businesses as well as innovative tech startups. Its roster of clients includes Kleiner Perkins, BreezyHR, SugarCRM, 6Sense, Lunchclub, and Gem.
Along with the new funding to support growth, Craft Ventures’ co-founder and general partner, Jeff Fluhr, will join PDL’s board of directors. And, Flex Capital’s general partner and SafeGraph CEO, Auren Hoffman, will continue to serve as an advisor.
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“By empowering the engineers, data scientists, and developers building startups and innovating within legacy businesses, PDL brings the power of data to every corner of industry,” said Fluhr. “Companies are using PDL’s API-first data products to obtain better information about the people that matter most to them: their current and prospective customers, employees, and partners. They’re leveraging PDL’s data for digital marketing, customer insights, fraud detection, and talent recruitment. As more companies expand their reliance on this data, we expect PDL to play an increasingly important role in how leaders make decisions.”
Founded in 2015 by Sean Thorne and Henry Nevue, PDL empowers developers and engineers across verticals to build innovative products with trusted, compliant B2B data from more than 3 billion people profiles and 18.6 million companies. PDL data currently powers platforms for talent acquisition, investment research, fraud detection, risk mitigation, and digital marketing, among many other prominent use cases. People Data Labs has seen consistent revenue growth as a result of its innovative products and services, and the ongoing need for high-quality data to support digital transformation across every industry.
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