Enigma Raises Another $95M to Bridge the Gap Between Data and Business Decisions
In Action Summary
Enigma is a New York a data-as-a-service startup enable organizations to make sense of their internal data and leverage real world data signals. To facilitate its idea, Enigma has built a vast knowledge bank of people, places and companies, with public data, to create a unique map of the world for individuals and enterprises. The platform will be helpful for Fortune 500 clients, including BB&T, EMD Millipore, Celgene and Merck. The platform aims to deliver intelligent connected insights from data.
Enigma received $95m in funding that was led by NEA and strategic investors lincluding MetLife, BB&T, Capital One Growth Ventures and Third Point, along with leading venture firm Glynn Capital. Early investors Comcast Ventures, Crosslink Capital, Two Sigma Ventures, and the Partnership Fund for NYC.
Enigma helps to bridge data gaps that restrict business decisions
According to Enigma, much of its success in the Financial Services industry has been driven by its focus on building a high-quality, organized data collection and standardized methodologies, helping them validate and continuously enrich the information they hold in order to tackle financial crimes, do priority work, and become more customer-centric. One of the boggest insurers in its client base is Metlife, which provides its a new capability to move beyond protection products and flourish in prevention and recovery for its customers with the help of real time data.
Marty Lippert, EVP and head of MetLife Global Technology & Operations and MetLife Holdings. “As the inaugural investment for MetLife Digital Ventures, our partnership with Enigma marks a major milestone in our effort to promote a culture of innovation at MetLife and further solidifies our commitment to being a leader in digital transformation across the insurance industry. Enigma’s technology and machine learning capabilities have the potential to radically shift the insurance value chain by providing trustworthy intelligence to empower smarter, faster decision making.”