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Data “philanthropy” firm secures $18.7m funding

Feb 22, 2017, 6:05 AM EST
Data.world C.E.O. Brett Hurt (extreme right)

A Texas-based startup, called Data.world, is leading a new kind of data movement whereby it seeks to eliminate the barriers to finding data and collaborating with others to extract insights. The two-year-old firm got a major push as it secured a $18.7 million Series B funding, led by Pat Ryan’s family investment group.
The firm endeavors to promote and nurture a culture of “data philanthropy,” a concept that urges companies to share their data for the social and economic welfare of the world, reports Tech Crunch.
C.E.O. Brett Hurt and C.P.O. Jon Loyens explain the benefits by quoting the example of Uber, which last month announced the release of “Movement,” an online tool that analyzes traffic data gathered from years of operating its fleet. Such a sharing could be mutually beneficial as the cities get the chance to leverage the information for better planning while the service can reap the advantage of sound infrastructure in future.
Data.world, which is described by many names including a social network, a discovery tool, a collaboration platform, or a data repository, aims to solve academic, commercial, and societal problems with aggregation and analysis of vast troves of datasets available in the online and offline environment, writes ZDNet.