Data Republic raises $16m from Singtel, Singapore Airlines

Data Republic has raised US$16.2 million in series B funding to accelerate its expansion in Asia, it announced today.

Singtel Innov8, the venture arm of Singaporean telco Singtel, led the round, while Singapore Airlines came on board as a new investor. Previous backers ANZ, Qualgro, Reinventure, and Ryder Innovation Fund also participated.

(L to R) Danny Gilligan, co-founder, Data Republic; Edgar Hardless, CEO, Singtel Innov8; and Paul McCarney, co-founder and CEO, Data Republic / Photo credit: Data Republic

Data Republic provides an inter-organizational data sharing platform named Senate, which allows businesses to exchange sensitive data securely online. It does this by “providing comprehensive legal, governance, and licensing workflows” for companies that share data with each other.

While the Sydney-based startup didn’t provide any additional detail on how it would be allocating the fresh funds, it has been focused on international expansion of late. It opened a Singapore office in June in an effort to meet “continued interest from major regional players.” It also has a US office in Los Angeles.

“Gaining support from major Singaporean businesses like Singtel and Singapore Airlines demonstrates the growing importance of privacy and [secure] data sharing across markets,” said Paul McCarney, Data Republic’s co-founder and CEO.

See: Why the world’s best airline is taking it slow on innovation

The investment by Singapore Airlines is notable, as the city-state’s flag carrier has been doubling down on digital innovation. Earlier this year, it introduced KrisPay, a blockchain-based mobile wallet linked to its customer loyalty program, and partnered with Grab on a joint rewards scheme. The airline also released an API suite to the developer community in October, is slated to launch a startup incubator called KrisLab next month.

Cybersecurity is now on top of the airlines industry’s list of priorities, with Singapore Airlines’ regional rival Cathay Pacific recently admitting that it was hit by a massive privacy breach earlier this year. The personal details of 9.4 million of its customers, including passport numbers and travel histories, were compromised.

With so much sensitive data on hand and a growing network of partnerships with third parties, ensuring privacy and security is key for carriers like Singapore Airlines. Another flag carrier that has invested in Data Republic is Australia’s Qantas, which joined one of the startup’s previous fundraising rounds.

Currency converted from Australian dollars. Rate: US$1 = A$1.36