DataRails Raises $6 Million

Enterprise IT startup DataRails announced it has raised $6 million in Series A financing. Four investors contributed to the round, including Vertex Ventures, Cyrus Capital, and Oryzn Capital.

DataRails is a technology solution that tracks, controls, and manages spreadsheets at the enterprise and business level, and with no change to the end-user. DataRails upgrades Excel into an enterprise-ready management solution that helps users make smarter decisions and exercise more control over their spreadsheets, keeping them verifiable and trusted while enabling collaboration and industry-leading regulatory compliance.

The company revealed that DataRails will use the funding to open an office in New York,  strengthen product development, and extend its worldwide customer base.