At the beginning of this year, the team at Flatfile was working hard on a new product and weighing next steps for funding.
The company had just raised a $2 million pre-seed round in October for its data import solution and knew it needed to scale-up to meet the demand for its new solution.
"The thinking at the time was we knew this product was on the horizon and we knew it was a large opportunity. We needed to scale up the team to address that," co-founder and COO Eric Crane told Colorado Inno.
Flatfile planned to start the fundraising process in February, hoping to close the round sometime in the fall. But, a meeting with interested investors in San Francisco led to an offer the company couldn't wait on and Flatfile opened its round earlier than expected.
"We came to a decision in early-March to go forward with the round," Crane said. "We knew we could pull forward some of this hiring."
Flatfile announced Wednesday that it closed a $7.6 million seed round led by Two Sigma Ventures, with participation from previous investors including Afore Capital, Designer Fund, and Gradient Ventures, Google's AI-focused venture fund, as well as new investors HNVR, Work Life Ventures, Quiet Capital, Basecamp Fund, and Soma Capital.
The funding coincides with the launch of its new solution, Concierge, a product focused on data onboarding for large enterprises.
Concierge is designed with enterprise-scale data onboarding in mind, providing secure workspaces for collaboration between organizations, allowing customers to manage data ingestion challenges for the hundreds or thousands of organizations they serve.
Concierge reduces the time and effort required to transmit, normalize and validate complex data sets in a no-code environment that can be configured in minutes, all while retaining the benefits of Flatfile's underlying data healing API.
Flatfile has more than 400 companies on the waitlist for Concierge, Crane said, from early-stage startups to publicly traded companies. It plans to roll the companies off of the waitlist in a tiered approach starting today.
"We do want to make sure we are building this product with direct feedback from customers, because this is a new type of offering that doesn’t exist in the market today," Crane said. "We want to make sure we’re getting this right for the customers we’re serving."
The dispersed company has 16 full-time employees spread throughout the country and plans to have nearly 30 employees by the end of the year.
"We have a lot more hiring to do, especially on the engineering team," Crane said.
Crane is based in Atlanta, and co-founder David Boskovic and five other employees are in Denver, Flatfile's largest employee count in any city.
