Slater Technology Fund Invests $350,000 in Platform-as-a-Service Company Datarista
Slater Leads $1-Million Seed Round of Financing for Sales and Marketing Data Integration Company
Providence, R.I., April 20, 2016 – The Slater Technology Fund today announced it has committed $350,000 to Datarista, a Providence-based platform-as-a-service (PaaS) company that focuses on the $11-billion sales and marketing industry. The investment was part of a $1-million seed round led by Slater and joined by private investors. Slater Managing Director Thorne Sparkman also announced that he has joined the Datarista board of directors.
Datarista was formed by Pat Sabatino, a 30-year commercial data and CRM executive who has worked for some of the industry’s biggest companies, including Salesforce.com, Jigsaw, and Acxiom. Sabatino founded Datarista to solve a problem that he had encountered repeatedly during his long career – the issue of how to simply and cost-effectively integrate third-party data into SaaS-based CRM and marketing automation platforms. While software providers have developed real-time integrations to these cloud platforms, the data industry still delivers data primarily to the end user without providing a truly real-time Data-as-a-Service offering. As the number of available cloud platforms has grown, the cost of developing and maintaining these integrations continues to distance the data industry from delivering to the market as a whole.
Datarista solves this problem with a fully integrated delivery platform that simplifies the process of integrating third-party data into the various cloud-based CRM and marketing automation platforms used by organizations. Datarista’s platform allows third-party data providers to automatically enhance customer data and provide prospecting data fully integrated into the end user’s business process, eliminating the exporting, offline sync and importing processes that sap time, money and effort from their customers while increasing data velocity by providing an on-demand experience.
“Sales and marketing data integration has been a complicated and expensive problem for data companies and their end-user customers for many decades,” said Sabatino. “The Datarista platform is the first solution that allows data providers to link data into multiple cloud platforms via a single integration. I am pleased that Slater has recognized the value of our technology and has chosen to support us, and we look forward to growing our company here in Rhode Island.”
“Rhode Island has been the breeding ground for a number of successful companies in the data industry, including MarketModels, Entiera, and CoReg360, and Pat Sabatino has worked for them all,” said Slater’s Thorne Sparkman. “No one has a better understanding of the pain points of the industry than Pat, and we believe he is well positioned to solve them with Datarista.”