Data intelligence company Collibra has raised US$250 million in Series G funding with Sequoia Capital Global Equities (SCGE) and Sofina leading the round.

The fresh funds value Collibra at $5.25 billion, more than doubling the company’s valuation of $2.35 billion announced in April 2020.

The round also saw the participation from new investor Tiger Global Management and existing investors Battery Ventures, Alphabet’s venture unit CapitalG, Dawn Capital, Durable Capital Partners LP, ICONIQ Capital and Index Ventures.

The business will use the raised capital to double the size of its global workforce by 2023 as well as enhance its SaaS platform and expand its partners ecosystem.

Felix Van de Maele, founder and CEO of Collibra, said: “We are seeing overwhelming demand for our platform, and the interest from the investor community further validates our approach to helping our customers drive value from their own data.

“We are the only company in the industry that provides a single, fully integrated cloud-native platform to enable customers to accelerate their digital transformation journey.”

The New York and Brussels-based business said it has experienced rapid growth and customer traction, accelerating international expansion across key verticals including financial services, government, manufacturing and healthcare internationally helping to drive record performance in 2021.

Founded in 2008, the software unicorn works with over 500 global enterprises, including seven of the 10 largest pharmaceutical companies, 70% of the largest US banks, and several of the world’s largest retailers.

Aneesh Venkat, partner at Sequoia Capital Global Equities, said: “With the growth of the datasphere expected to reach 181 zettabytes in 2025, the opportunity lies in how organizations can manage both the data sprawl and complexity.

“Collibra’s approach to delivering data intelligence will be the game changer as organisations become more agile in their strategies and business operations.”

Collibra’s latest round follows on from Databricks’ $1.6 billion fund series last August that valued the company at $38 billion, and that of Celonis which raised $1 billion valuing the firm at $11 billion.