Flex Capital is excited to announce our investment in People Data Labs’ Series B.
Of all the data categories out there, data on people is some of the least accurate. People Data Labs is trying to change that, and at Flex we’re excited to be part of that mission.
People Data Lab (PDL) has quickly emerged as one of the leading B2B data enrichment providers globally, offering extensive data sets covering 2.5Bn+ people records accessible through a suite of developer-friendly APIs.
Flex Capital is excited to be participating in People Data Lab’s $30M series B at $300M pre-money valuation led by Craft Ventures.
We believe People Data Labs is uniquely positioned to establish itself as a global epicenter for the aggregation of people-centric data. PDL leverages a data co-op model, so every new client not only contributes data but also enriches and refines the entire ecosystem over time.
PDL: The Power of People Data
PDL is building the definitive database for people and companies, a notoriously tricky data category. Their co-op model allows them to build a uniquely accurate and reliable database that can be used for applications where data fidelity is critical, like training AI models and complex algorithms.
People Data Labs has positioned itself as a vital tool for developers and teams to build and scale data-driven products. Companies use PDL’s extensive database to build and enrich their own records, as well as power power predictive models and clean existing data through a proprietary schema.
Today, PDL offers 130+ “columns” of data on their 2.5Bn+ people and company record, including address, email, LinkedIn profile, and many other key data points. The datasets can be accessed and cross-referenced through developer-friendly APIs that allow the data to easily integrate with a number of use cases. Companies can license PDL’s datasets to enable their end-users to access the underlying data through their own products.
To use an analogy to a database, the company’s aim is to achieve near 100% coverage of the rows (people and companies), while expanding the number of columns (relevant data points) to enrich the rows.
As they expand the number of relevant data points collected, they can expand the use cases of the platform from sales and marketing into other verticals like fraud prevention, recruiting, and market insights.
Why We Invested in PDL
In addition to their excellent business model and clear momentum, we’re investing in PDL because they’re positioned to take advantage of a major B2B paradigm shift.
The customer journey is becoming increasingly personalized, and personalization is achieved with data. Highly accurate, organized and leverageable people and company data will only become more valuable as this trend accelerates.
Beyond this, People Data Labs is positioned to transcend its current boundaries and firmly establish itself as a global epicenter for the aggregation of people-centric data. By positioning itself at the very core — the infrastructure layer — of a myriad of internet applications, PDL's reach can span across a diverse spectrum of use cases. This includes, but is not limited to, sectors like recruiting, fintech, sales, and marketing. The overarching vision is not just to be an adjunct tool, but an indispensable element in the digital ecosystem.