Enigma Technologies Revenue, Valuation, Funding & Investors

Enigma Technologies is valued at $400M as of September 2018, a 17.4x multiple on its last reported $23M revenue.

Last Enigma Technologies valuation

$400M

Series C · Sep 2018

Last Enigma Technologies funding round

$95M

Series C · Sep 2018

Enigma Technologies revenue

$23M

Series C · Sep 2018

Key investors in Enigma Technologies

  • Crosslink Capital
  • Comcast Ventures
  • Amex Ventures
  • New Enterprise Associates
  • Two Sigma Ventures
  • The New York Times

Enigma Technologies Overview

About Enigma Technologies

Enigma Technologies is a New York-headquartered data analytics provider specializing in small business intelligence. The platform delivers insights into business identity, operations, and risk profiles for applications in insurance underwriting, fraud prevention, and customer servicing. Major financial services firms such as American Express, Truist, and PayPal integrate Enigma's data to inform lending, compliance, and risk management decisions. Founded in 2011, the company aggregates public records, transaction data, and alternative sources to cover millions of small and medium-sized enterprises across the United States and select international markets.


Founded

2011

HQ

United StatesNew York City, NY

Website

enigma.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$23M (Sep 2018)

Valuation

$400M (Sep 2018)

Enigma Technologies Valuation

Enigma Technologies is currently valued at $400M, based on its Series C in September 2018.

The $95M round was led by New Enterprise Associates, with participation from Amex Ventures, Comcast Ventures, MetLife, Capital One Ventures, BB&T and 4 other investors.

Enigma Technologies valuation by funding round

Enigma Technologies valuation by funding round
DateStageValuationRevenue Multiple
Sep 2018Series C$400M17.4x

Enigma Technologies Revenue

Enigma Technologies' latest recorded revenue is $23M, as of its Series C in September 2018. At a $400M valuation, that implies a 17.4x revenue multiple.

Enigma Technologies revenue by funding round

Enigma Technologies revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2018$23M$400M17.4xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Enigma Technologies Funding History

Enigma Technologies has raised a total of $129M across 4 funding rounds.

Enigma Technologies' first fundraising round was a $1M seed round in February 2013. The most recent completed round was a $95M Series C in September 2018.

Enigma Technologies funding rounds

Enigma Technologies funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2018Series CNew Enterprise Associates (lead); Amex Ventures; Comcast Ventures; MetLife; Capital One Ventures; BB&T; Glynn Capital Management; Crosslink Capital; Third Point Ventures; Two Sigma Ventures$95M$400MEnigma Technologies, a New York-based Data-as-a-Service company founded in 2011, raised $95 million in a Series C funding round on September 18, 2018, led by New Enterprise Associates (NEA). The round included new investors BB&T, Capital One Ventures (also referred to as Capital One Growth Ventures), MetLife, Third Point Ventures, and Glynn Capital Management, alongside existing backers Comcast Ventures, Crosslink Capital, Two Sigma Ventures, and the Partnership Fund for New York City. Enigma's platform connects enterprise internal data with real-world external data sources to deliver intelligent insights for business decisions, powering workflows in areas such as financial risk management, anti-money laundering (AML), Know Your Customer (KYC), sanctions compliance, insurance risk assessment, pharmaceuticals, sales and marketing, procurement, and fraud detection. The company serves Fortune 500 clients including BB&T, EMD Millipore, Celgene, and Merck, enhancing their data-driven processes through machine learning and contextualized narratives from public data footprints, relationships, and transactional activity. The funding was intended to expand Enigma's data network and platform capabilities, accelerating focus on risk, procurement, and fraud use cases while building on progress since its prior $28.2 million Series B round in 2015. Strategic investors like MetLife highlighted Enigma's potential to transform the insurance value chain, while BB&T noted its value for digital transformation and FinTech innovation.
Mar 2015Series BNew Enterprise Associates (lead); Amex Ventures; Comcast Ventures; Partnership Fund for New York City; The New York Times; Two Sigma Ventures$28M-Enigma Technologies closed a $28.2 million Series B funding round in 2015 led by New Enterprise Associates (NEA), with participation from investors including Amex Ventures, Comcast Ventures, Partnership Fund for New York City, The New York Times, and Two Sigma Ventures. The round aimed to expand operations. A subsequent $95 million financing round was announced years later, led by NEA with new investors like Capital One Growth Ventures, MetLife, BB&T, Third Point, and Glynn Capital, plus prior backers such as Comcast Ventures, Crosslink Capital, Two Sigma Ventures, and Partnership Fund for NYC. This later funding supported expansion of Enigma's Data-as-a-Service platform connecting real-world and enterprise data for workflows in financial risk management, compliance, pharmaceuticals, sales and marketing, risk, procurement, and fraud. Enigma's platform builds a knowledge bank of people, places, and companies from public data to enable data-rich insights for Fortune 500 clients including BB&T, EMD Millipore, Celgene, and Merck.
Aug 2013Series AComcast Ventures (lead); Expansion Venture Capital; Amex Ventures; The New York Times; Crosslink Capital$5M-Enigma Technologies is a data-as-a-service company founded in 2011 that transforms disparate data into connected insights about people, places, and companies. The company's platform uses public data and machine learning to structure information into knowledge graphs that power enterprise workflows across financial services, insurance, and life sciences. In early 2014, Enigma completed a Series A funding round of $4.5 million led by Comcast Ventures with participation from American Express Ventures, Crosslink Capital, and The New York Times Company. The company targeted financial institutions, news media, academia, and professional services as primary customer segments. Enigma launched publicly at TechCrunch Disrupt NY 2013 and won the Startup Battlefield competition that year, establishing early credibility in the market.
Feb 2013SeedMatthew Glass; Strauss Zelnick; Brent Hurley; TriplePoint Capital; Crosslink Capital$1M--

Who has invested in Enigma Technologies?

17 investors have backed Enigma Technologies across its funding rounds, including Crosslink Capital, Comcast Ventures, Amex Ventures, New Enterprise Associates, Two Sigma Ventures and The New York Times.

Lead investors include New Enterprise Associates and Comcast Ventures.


Enigma Technologies Investors

Investors in Enigma Technologies by funding rounds participated
InvestorHQRoundsRoleFirst check
Amex VenturesUnited StatesNew York City, NY3ParticipantAug 2013
Comcast VenturesUnited StatesSan Francisco, CA3LeadAug 2013
Crosslink CapitalUnited StatesSan Francisco, CA3ParticipantFeb 2013
New Enterprise AssociatesUnited StatesSan Francisco, CA2LeadMar 2015
The New York TimesUnited StatesNew York City, NY2ParticipantAug 2013
Two Sigma VenturesUnited StatesNew York City, NY2ParticipantMar 2015
Matthew GlassUnited StatesNew York City, NY1ParticipantFeb 2013
Expansion Venture CapitalUnited StatesNew York City, NY1ParticipantAug 2013
Strauss ZelnickUnited StatesNew York City, NY1ParticipantFeb 2013
Brent HurleyUnited StatesSan Francisco, CA1ParticipantFeb 2013
Partnership Fund for New York CityUnited StatesNew York City, NY1ParticipantMar 2015
MetLifeUnited StatesUnited States1ParticipantSep 2018
Capital One VenturesUnited StatesSan Francisco, CA1ParticipantSep 2018

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Enigma Technologies Competitors

Enigma Technologies competitors include listed companies like Value Line and HCR Co, and private ones like JUMO, Origin, Paradigm and Singularity.

Public and private companies comparable to Enigma Technologies
CompanyHQStatusRevenueEBITDAValuation
JUMOSouth AfricaCape TownPrivate--$400M
OriginUnited StatesBoston, MAPrivate--$400M
ParadigmSingaporeSingaporePrivate--$400M
SingularitySingaporeSingaporePrivate--$400M
Value LineUnited StatesUnited StatesPublicly listed$33M$29M$372M
HCR CoChinaChinaPublicly listed$75M($3M)$354M

Enigma Technologies Public Comps

Enigma Technologies is still privately-owned, but its public comps include Value Line, HCR Co, CTOS Digital, Finatext, GlobalData, CARE Ratings, NZX, Fintel, Bairong AI and Credit Bureau Asia.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Value Line$33M$29M8.5x-10.0x-
HCR Co$75M($3M)3.3x-(84.3x)-
CTOS Digital$80M$28M4.4x4.1x12.6x15.6x
Finatext$71M$13M6.3x5.4x34.1x-
GlobalData$433M$140M1.7x1.7x5.3x5.0x
CARE Ratings$49M$21M9.2x9.9x21.5x20.5x
NZX$74M$30M4.0x3.4x9.8x9.2x
Fintel$115M$18M2.7x2.8x17.3x8.4x

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Common questions about Enigma Technologies

When was Enigma Technologies founded?Enigma Technologies was founded in 2011.
Where is Enigma Technologies headquartered?Enigma Technologies is headquartered in New York City, NY, United States.
Is Enigma Technologies publicly listed?No, Enigma Technologies is a private, VC-backed company.
What is Enigma Technologies' valuation?Enigma Technologies was last valued at $400M in its Series C in September 2018.
How much funding has Enigma Technologies raised?Enigma Technologies has raised $129M across 4 funding rounds.
What was Enigma Technologies' last funding round?Enigma Technologies' last funding round was a $95M Series C in September 2018, led by New Enterprise Associates.
Who are Enigma Technologies' investors?Enigma Technologies' investors include Amex Ventures, Comcast Ventures, Crosslink Capital, New Enterprise Associates, The New York Times, Two Sigma Ventures, Matthew Glass, Expansion Venture Capital, Strauss Zelnick, Brent Hurley and 7 others.
What is Enigma Technologies' revenue?Enigma Technologies' latest recorded revenue is $23M (September 2018).
What is Enigma Technologies' revenue multiple?Enigma Technologies' latest valuation implies a 17.4x revenue multiple ($400M valuation on $23M of revenue).
Which companies are comparable to Enigma Technologies?Companies comparable to Enigma Technologies include JUMO, Origin, Paradigm, Singularity, Value Line and HCR Co.

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