The Nigerian data and insights startup Stears disclosed that it had secured $3.3 million from Serena Williams’ investment firm, Serena Ventures, as part of a seed round.
The Omidyar Group’s Luminate Fund, Cascador, Hoaq Club, Melo 7 Tech Partners, and MaC Venture Capital were also a part of the round, which was led by MaC Venture Capital.
Preston Ideh, Abdul Abdulrahim, Foluso Ogunlana, and Michael Famoroti founded Stears in 2017.
Stears is a provider of financial data and analytics that charges businesses and professionals on a subscription basis for data and insight.
The company was one of the 60 startups selected for the Google for Startups Black Founders Fund 2022 batch.
Preston Ideh, a co-founder, commented on the funding round, saying, “We know that worldwide professionals need our data and insight because banks, research organizations, development companies, and investors are currently using our early products. Our clients claim that we are creating a “systemically essential” business to solve Africa’s data crisis.
The company has stated that it will utilize the funds to strengthen its data collection and analytics skills, recruit top people, and expand into East and Southern Africa.
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