First Funds for Data Quality Co-op

In Salt Lake City, Data Quality Co-op (DQC) has secured a first funding round of $1.25m to develop its platform functioning as 'the insights industry's first independent clearinghouse for data quality measurement'.

The firm points to the 'rising challenges' of fraud, inconsistent quality and lack of transparency in the global first-party data market. DQC says its platform, inspired by the work of companies like Verisk Analytics for insurance and Integral Ad Science for digital ads, directly addresses these issues, giving companies 'clear benchmarks and actionable insights' to help them trust their data. The tool creates visualizations, shares industry norms and offers insights to help users anticipate and address quality issues, both during data purchase and usage. The firm also audits and certifies quality management programs and outcomes, helping users to compare their offerings with those of others, and promote their high quality data.

Funding was led by Kickstart Fund, with participation from SaaS Venture Capital and Service Provider Capital, along with a number of individual investors from the consumer insights, technology and finance sectors.

CEO and founder Bob Fawson, formerly of Western Wats, SSI and Dynata, comments: 'We're committed to addressing the industry transparency challenge head-on. This funding round enables us to accelerate platform development and pursue our goal of helping the sector fully realize the transformative potential of its data'. Co-founder Ian Haynes adds: 'Our platform strengthens the quality signals for everyone in the ecosystem of market research and adjacent industries. The way it works allows companies to not only measure their own data but also improve collaboration across the supply chain'.

Web site: www.dataqualityco-op.com .