Loading organizations...
§ Private Profile · New York City, NY, USA
Data science company helping businesses harness big data to uncover insights, reduce risk, and drive smarter decision-making.
Enigma Technologies is a New York City-based data science company that aggregates and analyzes open and proprietary data to help enterprises address complex operational challenges. The software platform processes these vast datasets to uncover actionable business intelligence insights, enabling large organizations to significantly reduce risk, streamline compliance workflows, and drive smarter decision-making processes. The firm is backed by prominent venture capital investors including New Enterprise Associates and Comcast Ventures, providing advanced analytics solutions to major corporate clients such as American Express and Merck. To support its data infrastructure and ongoing commercial expansion, the enterprise has raised approximately $130 million in total equity funding across multiple venture rounds since its inception. Enigma Technologies was established in January 2012 by co-founders Hicham Oudghiri and Marc DaCosta to bridge the gap between public data and enterprise applications.
Enigma Technologies has raised $253.0M across 7 funding rounds.
Enigma Technologies has raised $253.0M in total across 7 funding rounds.
Enigma Technologies has raised $253.0M in total across 7 funding rounds.
Enigma Technologies's investors include New Enterprise Associates, Bennett Bradley, Aman Sharma, Comcast Ventures, Crosslink Capital, Glynn Capital, Marty Lippert, Partnership Fund for New York City, Third Point, Two Sigma Ventures, 2048 Ventures, Amara VC.
Enigma Technologies has raised $253.0M across 7 funding rounds. Most recently, it raised $95.0M Other Equity in September 2018.
# Enigma Technologies: High-Level Overview
Enigma Technologies is a data science and AI company that provides comprehensive business intelligence to financial services, insurance, and B2B marketing firms.[1][4] Founded in 2011 and headquartered in New York City, Enigma transforms hundreds of public and private data sources into actionable insights about the identity and financial health of small and medium-sized businesses across the United States.[1][4] The company serves Fortune 500 clients including American Express, ADP, PayPal, and Merck by engineering proprietary machine learning solutions that solve critical compliance, underwriting, and risk management challenges.[1]
Enigma's core mission centers on making data "connected, open, and actionable"—a vision born from the founders' frustration during the 2008 financial crisis when relevant public data existed but remained fragmented and inaccessible.[1] Today, the company operates as a Data-as-a-Service platform that helps organizations onboard customers faster, verify business identities, manage sanctions screening, and assess financial risk with confidence.[4][6]
# Origin Story
Enigma Technologies was founded by Marc DaCosta (Chairman, co-founder) and Hicham Oudghiri (CEO, co-founder) in response to systemic data fragmentation exposed by the 2008 financial crisis.[1] The founders recognized that while relevant public data existed—including government records, regulatory filings, and organizational databases—the world lacked the infrastructure to connect these sources and extract meaningful intelligence. This insight drove them to build a company that could aggregate hundreds of data sources and apply machine learning to reveal hidden business relationships and risk signals.
The company gained early validation by winning the TechCrunch Disrupt NY 2013 competition and graduating from the 2014 FinTech Innovation Lab, establishing credibility within the fintech and data intelligence communities.[3] Enigma has since raised $132.7 million across four funding rounds, with the most recent funding of $5 million demonstrating sustained investor confidence.[5]
# Core Differentiators
# Role in the Broader Tech Landscape
Enigma operates at the intersection of three powerful trends: the regulatory tightening of financial services compliance, the explosion of alternative data sources, and the maturation of machine learning for entity resolution and risk assessment.
The company addresses a critical market gap: as financial institutions face mounting Know Your Business (KYB) and sanctions screening requirements, manual verification processes become prohibitively expensive and error-prone. Enigma's automation of these workflows reduces friction in lending, merchant onboarding, and insurance underwriting—industries where speed and accuracy directly impact revenue and risk exposure.
Beyond compliance, Enigma influences the broader data infrastructure ecosystem by demonstrating that public data, when properly aggregated and enriched, can become a defensible competitive asset. The company's success has validated the "data as a foundation layer" model, where business intelligence becomes embedded infrastructure rather than a standalone tool. This approach has implications for how enterprises think about data architecture and third-party integrations.
# Quick Take & Future Outlook
Enigma is well-positioned to capture expanding demand for business intelligence as regulatory complexity increases and enterprises prioritize faster customer onboarding. The company's $14.7 million revenue and 70-person team suggest room for significant scaling, particularly as financial services firms continue automating compliance workflows and expanding into underserved SMB markets.
The trajectory points toward deeper vertical integration—Enigma may expand its platform to address adjacent use cases like supply chain risk, vendor management, and fraud detection. As artificial intelligence becomes more sophisticated, the company's ability to surface novel risk signals from disparate data sources could become increasingly valuable.
The core question for Enigma's future: can it maintain its data moat as competitors build alternative entity resolution systems, and can it expand beyond compliance use cases into strategic business intelligence that drives growth rather than just risk mitigation? Success on both fronts would position Enigma as foundational infrastructure for the SMB economy.