Flatfile, a startup that specializes in AI-assisted data exchange, announced Wednesday that it launched its new Data Exchange Platform — reportedly the industry’s first extensible platform for file-based data import. The news comes less than a year after the Denver-based company raised a $50 million Series B funding round led by VC giant Tiger Global.
Although data integration tools have been around for several decades, Flatfile argues that they are not suiting the needs of modern companies. After all, data is the backbone of every business — it resides across files, employees, vendors, customers, remote offices and partners — and it varies in terms of quality, format and structure. Ensuring that data is accurate, secure and available for use is imperative to a business’ success, particularly as companies continue to embrace machine learning, artificial intelligence and automation.
Flatfile aims to provide solutions that companies large and small can count on. Its new platform provides a library of APIs, event-driven architecture and advanced data import functionality so that developers can easily and securely build fully customizable, file-based imports to address their unique needs. This includes collecting any file type from any data source, AI-powered data matching, automated formatting, cleaning and validating data, as well as human in the loop reviews and approvals.
The platform is also built to scale for enterprise needs, including support for compliance and security standards, very large file support, parallel processing and load balancing, and multi-region data storage.
“We are putting the power of Flatfile data import right in the hands of every developer,” David Boskovic, Flatfile’s founder and CEO, said in a statement. “Instead of trying to create yet another one-size-fits-all tool that would inevitably be limited, we set out to create a platform that enables any developer to build the ideal solution for their specific needs. The release of the Flatfile Data Exchange Platform opens up entire new options for companies looking for data file import solutions that support their business.”
The Flatfile Data Exchange is already being used by prominent companies like AstraZeneca, Square and Sage. As of today, it is now available for free to all businesses, with a monthly data usage allowance. Teams that have higher data needs can pay for extra usage with a fixed rate, pay-as-you-go pricing, or set up a Professional or Enterprise plan.
