Open Data Co. Socrata Raises $30M; Valuation Swells
December 02, 2014
Socrata, a cloud software company that helps public sector organizations improve transparency, citizen service and data-driven decision-making, has raised $30 million in new funding, according to an SEC filing; the new investment brings the company's valuation to $160 million. Backed by VCs like OpenView Venture Partners, In-Q-Tel, Morgenthaler and Canvas Venture Fund, Socrata previously raised a $6.7 million Series A round at an $18 million valuation in 2008 and an $18.4 million Series B round at a $60.5 million valuation in 2013. Socrata, which has expanded its team from about 50 to 140 within the past year, recently announced its European expansion through partnerships with four cities in Spain.