en.Wedoany.com Reported - Databento announced the completion of a $97 million Series B funding round, led by New Enterprise Associates (NEA), with participation from DRW, Redpoint Ventures, and Tribe Capital. The company stated that the round was oversubscribed, attracting over $300 million in investment interest, bringing the three-year-old Databento's total funding to approximately $127 million.
CEO Christina Qi co-founded Domeyard, a high-frequency trading fund that at its peak traded billions of dollars daily. She found that operational bottlenecks often stemmed from market data itself, rather than trading strategies. To address this, Databento aims to shorten the path from idea to production by providing clean price data via APIs, eliminating the need to process raw exchange data feeds. The company has written data stream processors for over 70 exchanges and serves more than 3,000 enterprises.
Databento targets a market long dominated by traditional providers like Bloomberg terminals, which cost approximately $20,000 to $27,000 per seat annually. Global market data spending exceeded $50 billion in 2025. Qi believes that programmatic access to market data will become the industry default, predicting that within three years, the number of financial professionals familiar with Databento's API will surpass those familiar with traditional terminals.
Its client base spans hedge funds, proprietary trading firms, broker-dealers, and fintech companies, extending into the artificial intelligence sector, with Nvidia serving as both a customer and technology partner. Databento reported that its revenue grew 6.65 times year-over-year, enterprise retention has remained at 97% since inception, and it achieved profitability ahead of schedule without tapping into its previous funding round. Its team of fewer than 30 engineers operates a bare-metal architecture, managing over 20 petabytes of raw data.
The funding round is planned for expansion into new asset classes and regions. Databento has begun building coverage in Europe and Asia-Pacific, expecting to expand its global data centers to over 20 within six months and secure more than 100 petabytes of available storage, doubling capacity. As part of the funding, NEA's Rick Yang joins the board, with Danielle Lay serving as an observer. Other investors include Alumni Ventures, Cross Creek, Motley Fool Ventures, and Operator Collective.
Market data is the infrastructure of financial trading. Databento, as a well-funded challenger, directly enters the traditional terminal space, testing whether market data pipelines are ready for change. Currently, the company remains an underdog, challenging industry habits that have persisted for decades.
