The Census Bureau has announced the closing of its Series B funding round. The round was led by global investment firm Goldman Sachs and participated in by existing investor Accel. The round raised $60 million on a pre-money valuation of $630 million, valuing the company at a post-money valuation of a little over $690 million. This investment is expected to provide additional resources to help the organisation accelerate its mission and enable more people to access critical parts of their communities, such as transportation networks, education options and quality healthcare.
The Census Bureau provides high-quality regional data on population growth and economic activity to local, state and federal governments to support decision-making in business recruitment, community development, public policy and education planning – serving as one of the nation’s leading sources for geographic data.
This latest funding will be used for further investments in modernising its data collection platforms, upgrading its analytics capabilities and working toward greater accessibility for all users – from novice census takers to data scientists – with an easy-to-use interface that requires no specialised training. This new infusion of capital will also go towards growing hiring across all departments including engineering, product management and customer success teams globally.
Census confirms it has raised a $60M Series B on $630M valuation
The Census Bureau recently confirmed that it has completed a $60 million Series B funding round on a $630 million valuation. This marks a major milestone for the company as it looks to expand its services and market share.
This article will provide an overview of the funding round and its implications for the company. We will also discuss the details behind the funding so you can better understand the overall dynamics of the deal.
Investor Details
The Census Bureau has released the investor details of the funding round. The Series B investors in this round include several well-known firms from the venture capital and growth equity space. Accel, the well-known venture capital firm, was joined by various other investors, such as Index Ventures, New Enterprise Associates (NEA), and Foundry Group. Accel led this funding round with additional support from Dialog Semiconductor and an undisclosed strategic investor.
The $60 million from these investors will be used to grow the various initiatives built on the platform – such as new products, acquisitions and other strategic partnerships. In addition, this investment is helping to fuel expanded customer adoption and increased capabilities discovered through research backed up by user feedback.
These investments will help position Census Bureau to continue driving innovation within its industry and become a national and international leader in its category.
Investment Amount
The Series B round was led by venture capital firm Accel and included investors such as Emergence Capital and Thrive Capital, as well as previous investors Andreessen Horowitz and Founders Fund. The total amount of money raised was $60 million, the company’s valuation being cited at $630 million.
In addition to this investment from venture firms, current investors such as Google Capital participated in the round. This brings the total amount of funds raised by the Census Bureau to date from notable investors including Index Ventures, Bessemer Venture Partners, and Harrison Metal to near $120 million.
The funds will be used for continued product development, hiring new employees in technology and operations departments, building out infrastructure towards capacity scaling needs, and increased investment efforts in data intelligence capabilities across consumer products and its enterprise business model. In an internal press release celebrating the news of the newly raised funding round , Census Bureau CEO Lee O’Neil said that “We’re extremely excited to have received this vote of confidence from our existing partners —we’ve grown rapidly since our launch in 2018 and look forward to using this round of funding towards further expanding our offerings”.
Valuation
The Census Bureau’s $60 million Series B funding round has substantially increased the company’s valuation. According to details provided by the company, this financing round was raised at a valuation of $630 million.
This raised valuation reflects the Bureau’s impressive growth over the past year, marked by an increase in both its customer base and revenue. The raised funds will be used to expand their product offering and team further. In addition, other investments have been made to enhance customer service, analytics and merchant integrations while leveraging their proprietary share-protecting technology.
Throughout this round, all series A investors participated. Several other new investors including Accel Partners, Intel Capital, Sutter Hill Ventures and True Ventures have also provided financing during this raise. In essence, Census Bureau has proved able to offer a previously unavailable product in the market and is quickly becoming an industry mainstay. Moving forward, these funds will certainly serve to fuel continued growth for years to come for them.
Impact of the Funding Round
The Census Bureau’s recent funding round is significant news and has significant implications for the data industry. The funding round is expected to elevate the Bureau’s technology and data capabilities, which could help to create more accessible, reliable, and valuable data products.
Furthermore, the $630 million valuation speaks to the potential of the data industry and the Bureau’s position in it.
Let’s dive into the other impacts of the funding round.
Expansion of Services
The Census Bureau’s additional funding is expected to immensely impact the agency’s ability to expand its services and offerings. With this fresh capital, the Census Bureau can now invest in technology solutions that can help it improve its data collection operations’ accuracy, speed, and scale.
This new funding can also be utilised to develop insights into population changes and emerging trends and new tools for businesses to access valuable market intelligence through the agency’s data. The financing round should also provide greater means for expanding the agency’s outreach within local communities and exploring untapped markets.
Therefore, this new capital is expected to enable the Census Bureau to shape a brighter future by deepening their commitment to providing high-quality population data in a cost effective way.
Improved Data Quality
The new funding round announcement by the Census Bureau signals its commitment to investing in data quality enhancements and expanding its scope of coverage. This improved accuracy and range of information can lead to more informed decisions by local communities, businesses, governments, and nonprofit organisations.
The additional funding will result in continued refinement of the census methodology and resources invested in field data gathering. It will also allow the organisation to develop new questions that cover previously non-existent areas such as migration patterns, socio-economics, further breaking down responses into granular levels allowing for more accurate representation of minority populations. Overall data reliability is expected to improve significantly as a result.
This improved data can be used to measure the impact public policies have had on populations that have been historically underrepresented depending on their economic status or demographics. Furthermore it could aid in setting up interventions such as education programs aimed at key demographics ensuring greater equity when it comes to access to resources or healthcare throughout various regions across the US.
Increased Accessibility
The significant round of capital raised by the US Census Bureau will allow for increased accessibility in terms of data collection, resulting in a more comprehensive research platform. This can be broken down into two main benefits:
1. The new funds will enable the Census Bureau to acquire additional resources and technologies to better measure, capture and store data. This would include enhanced digital infrastructure, such as improved cloud storage capabilities, more sophisticated analytics software and improved survey technology that can quickly generate more precise data sets from respondents.
2. Increased accessibility to market research surveys will allow the public to provide feedback in an even more precise manner, which provides the census bureau with valuable insight into consumer behaviour and attitudes towards issues like healthcare, education and poverty. Additionally, a wider roll-out of mobile datasets would make it easier for people to access survey results on their phones or tablets to obtain greater accuracy in the response rates given by citizens.
Overall, this funding round will benefit both citizen stakeholders and the US Census Bureau by providing valuable insight gained through increased accessibility of data collection methods.
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