Data governance startup Collibra Inc. today announced that it has closed a $112.5 million funding round led by ICONIQ Capital and Index Ventures at a $2.3 billion valuation.

Alphabet Inc.’s CapitalG investment arm, which was the biggest backer of Collibra’s previous round, chipped in as well. It was joined by Battery Ventures, Dawn Capital and Durable Capital Partners.

“We believe Collibra is a leader in the Data Intelligence category, a space that could have a tremendous impact on global business operations and a space that we expect will continue to grow as data becomes an increasingly critical asset,” Durable Capital Partners head Henry Ellenbogen said in a statement. 

New York-based Collibra makes software products that help large organizations manage their data. The startup’s tools provide the ability to track just about every detail about a given record from who owns it to when it was created and what edits have been made since. Collibra also enables administrators to create file access rules based on these details to make sure records aren’t being misused.

The startup’s technology lends itself to a number of common enterprise use cases. One is analytics, since the ability to view the origins of a file and other background details makes it easier to verify the accuracy of the information being processed. Another use case Collibra targets is regulatory compliance: the startup last year launched Collibra Privacy & Risk, a tool that makes it easier for enterprises to comply with privacy laws such as the European Union’s GDPR regulation.

The startup’s products have been adopted by over 450 organizations worldwide. Its customer roster includes Verizon Communications Inc., Adobe Systems Inc. and other large enterprises, as well as government agencies such as the U.S. Federal Aviation Administration.

Collibra’s funding round comes hot on the heels of Securiti.ai Inc., another data governance startup, closing a $50 million investment led by General Catalyst. Securiti.ai launched in 2019 with a suite of products that use artificial intelligence to help companies prevent misuse of their records, particularly sensitive information such as personally identifiable customer details.

Photo of Collibra CEO Felix Van De Maele: Index Ventures