QoreNext Secures $1.5 million in Seed Funding Round

Singapore-based QoreNext has secured $1.5 million in seed funding from Wavemaker Partners. The Data-as-a-Service provider will use the funding to advance production of its main modules and to bring its first set of data products to the market.

The company was founded by a data scientist Rahul Sahgal. His business idea was based on IP specifically carved out of Annik, the data and analytics company Sahgal founded and sold to French IT services giant CapGemini. Annik was part of a private equity-driven roll-up under digital customer engagement firm LiquidHub, which was acquired for US$500 million in 2018.

QoreNext has previously raised funding from leaders in the insights, payments, and data spaces.

"We have already had many constructive discussions with corporates that show a genuine interest in our data offerings", said Rahul Sahgal, founder and CEO of QoreNext. "In Wavemaker, we are excited to have found the perfect partner to help us get the company to the next level."

The Qore platform changes the way foundational data is produced and consumed, while the virtual collaborative aspect brings the gig-economy model into the corporate data management world. This precludes the need for armies of data stewards or editors.