The Nigerian data and analytics business Stears revealed that it has received $3.3 million as part of a seed round from Serena Williams’ investment company, Serena Ventures.
The round, which was led by MaC Venture Capital, also included The Omidyar Group’s Luminate Fund, Cascador, Hoaq Club, Melo 7 Tech Partners, and MaC Venture Capital.
Stears was established in 2017 by Preston Ideh, Abdul Abdulrahim, Foluso Ogunlana, and Michael Famoroti.
The financial data and analytics company Stears charges companies and professionals on a subscription basis for its information.
One of the 60 firms chosen for the Google for Startups Black Founders Fund 2022 cohort was the business.
“We know that worldwide professionals need our data and insight because banks, research organizations, development firms, and investors are now using our early products,” said Preston Ideh, a co-founder, in response to the fundraising round. According to our clients, we are developing a “systemically critical” company to address Africa’s data crisis.
According to the company, it would use the money to improve its data collection and analytics capabilities, hire top talent, and expand into East and Southern Africa.