May 3, 2023
BaseCap enables the prevention and resolution of organizational data quality problems, enabling clients to make better business decisions, with better data.
NEW YORK, New York – BaseCap, a data validation and monitoring company, has successfully completed a Series A funding round, raising $8.2 million. The funding was co-led by L’ATTITUDE Ventures, a venture capital firm with multi-industry expertise and influence in the regulatory space, and Mendon Venture Partners, a venture capital investment firm focused on the intersection of innovative technology and traditional banks. The executive team and existing investors—including Morgan Stanley—are also pleased to welcome GoHub Ventures, a leading Spanish VC fund with a focus on B2B SaaS, as a new investor in this round.
The proceeds will be used to further expand BaseCap’s Platform into new industries with high demand, enhance customer experience, and continue to grow the company’s pace of product innovation. BaseCap’s Platform has experienced significant demand from various industries, as enterprises seek efficient data operations management during the current down market. In the words of Mendon Venture Partners’ Managing Partner, Anton Schutz, “In times when banks are trying to improve profitability, companies like BaseCap—which help reduce costs and maximize profitability—are critical to the financial services industry.” For example, a top mortgage servicer leveraged BaseCap’s Platform to process 2x more loans per employee, markedly improving productivity and lowering the costs to service each loan.
BaseCap is quickly establishing a new standard in data validation and monitoring, and the company is looking to replicate the success it has experienced in the mortgage industry, across multiple industries. “BaseCap’s capabilities in the mortgage industry are unparalleled. As a former mortgage banker, co-founder of NAHREP, and director and advisor to many of the largest financial institutions in America, I have known first-hand the data issues in the industry. I see BaseCap as a revolutionary solution to many of the ongoing industry problems,” said Gary Acosta, Partner at L’ATTITUDE Ventures.
BaseCap is focused on its customers at its core, and the executive team is excited about the opportunity to accelerate market expansion and pursue new integrations, further solidifying its position as an innovator in the data industry. “At GoHub Ventures, we look for strong technologies that have the potential to disrupt entire industries, and we believe BaseCap’s technological approach to automating data quality controls is a clear example of that,” explained Inés Calabuig, Managing Partner at GoHub Ventures. “Led by one of the best teams we’ve seen, co-founders Steven and Nicolás have developed an outstanding product and are on track to achieving data integrity not only in the mortgage and financial industry in the U.S., but also in other verticals like Insurance and Healthcare, globally.”
About BaseCap Analytics
BaseCap improves decision-making through its Platform’s ability to provide automated data validation and monitoring. With the company’s unique Catch, Collaborate, and Correct approach to data issues, they seamlessly bring together each step in the data validation and monitoring workflow, allowing for transparency between business and technical teams. Users can now accomplish in minutes what used to take weeks of manual work, all while increasing data accuracy.
BaseCap’s Platform can be found via Microsoft’s Azure Marketplace as the only Data Quality Microsoft Partner in the Microsoft FSI cloud.
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