World Data Lab
Leading data analytics company secures multi-million investment led by Sparring Capital
Vienna, Austria - World Data Lab (WDL), a leading global data analytics company is pleased to announce the closing of a multi-million Series A funding. The international funding round is led by Vienna-based Sparring Capital Partners and includes Luxembourg-based impact VC fund Burning Issues Impact Fund, and Catagonia in Berlin.
Founded by the former Chief Economist of the World Bank and architect of the United Nations' 17 Sustainable Development Goals, World Data Lab provides high-quality forecasts of future demographics and purchasing power. With World Data Lab's various tools, globally active companies can identify future growth markets at an early stage and align their corporate strategy accordingly.
"We are very pleased to have the strong support of investors and intend to take the company to the next level with their help. We are now the global leader in forecasting purchasing power at a regional level. Our next step is to break these forecasts down into key consumer categories. We will also continue to expand our market presence in the United States and Africa. Our services are currently in particular demand for markets in transition or for markets with low data quality. Wolfgang Fengler, Co-Founder and CEO of World Data Lab.
Investment in the millions for the future
Sparring Capital Partners will support the further development of World Data Lab as a strategic partner together with CHI Impact Capital and Catagonia. "We are pleased to join and support World Data Lab," said Michael Steiner, founder and CEO of Sparring Capital Partners. World Data Lab has established itself as a major player in the DaaS (Data-as-a-Service) enterprise space and addresses a clear and essential customer need: "Reliable data is an indispensable compass in the current turbulent times. World Data Lab's products have therefore quickly become relevant tools in the strategy and marketing departments of international companies. The global customer base that has been built up here in a very short time is more than impressive," says Steiner, describing some of the motivations behind the investment.
World Data Pro: Core product for analysis of demographic development and purchasing power
World Data Pro, a leading platform for analyzing and forecasting demographic trends and purchasing power, is poised for even greater success with the addition of consumer categories. This will make it possible to accurately estimate the actual addressable market for a given product in any target market. "WDL enables companies and international organizations to base their key strategic investment decisions even better on sound analysis: The quality of the data and the ease of use are second to none," concludes Michael Steiner.
Significant team expansion
Prior to the Series A investment, WDL's management team was expanded in collaboration with Sparring to include key individuals: French-born Luis Simoes was recruited as Chief Revenue Officer. The former Chief Strategy and Transformation Officer of Kantar, one of the largest consumer insights companies in the world, will be responsible for the company's market development in the future. Patrick McSharry is a world-class Chief Data Officer. Born in the UK, he previously headed the Institute for Artificial Intelligence at Oxford University, is Professor of Data Analytics at the renowned Carnegy Mellon University and is the author of the book "Big Data Revolution".
About World Data Lab
World Data Lab (WDL) was founded by Wolfang Fengler and Homi Kharas the former Chief Economist of the World Bank and principal architect of the United Nations' 17 Sustainable Development Goals. The company is a leading data analytics company that provides data and software-as-a-service products to businesses and organizations around the world. WDL's data models are global, granular and forward-looking, tracking sustainability goals in real time to provide unique insights to organizations.
About Sparring Capital Partners
Sparring Capital Partners is a Vienna-based private equity firm founded by a group of entrepreneurs to provide capital and expertise to companies with strong growth prospects. The focus is on companies that apply transformative technologies as part of their unique position in the market or need such a position to remain competitive in the long term. Sparring works with Austrian and international family offices in this regard.
For media inquiries, please contact: Ludwig Reiter, e-mail: lr@schuetze.at
For more information about World Data Lab, visit: https://worlddata.io/