DatastreamX

About DatastreamX

DatastreamX began its journey in 2014, established in Singapore by founder Mike Davie with the goal of creating a global marketplace for real-time data. Davie's background, which includes roles at Samsung developing business models for mobile technologies and a Master's in Computer Information Systems from Boston University, gave him direct insight into the challenges companies faced in monetizing vast, underutilized data assets. The company's initial platform was designed to facilitate the buying and selling of diverse data streams—such as weather, traffic, and finance—providing an API for both data producers to sell their information and consumers like developers and data scientists to stream it.

The business model centered on taking a percentage of successful transactions conducted through its marketplace. To support companies new to data monetization, DatastreamX also offered consultancy and training services. Early milestones included graduating from the JFDI startup accelerator and securing two funding rounds: a US$368,000 seed round in 2015 and a US$465,000 pre-Series A in 2016.

Through its operations, the firm identified a critical market need for data verification and authenticity. This realization prompted a strategic evolution, and DatastreamX rebranded to Quadrant. The focus shifted to providing high-quality, authentic mobile location and point-of-interest (POI) data. Under the Quadrant brand, the company developed a more sophisticated offering consisting of two main components. The Quadrant Platform processes billions of records monthly, allowing organizations to source and transact validated data. Complementing this is the Quadrant Protocol, a blockchain-based system that stamps data at its origin to ensure authenticity and traceability. In September 2021, Quadrant was acquired by Appen, a global firm specializing in AI training data, for an upfront payment of US$25 million with potential for an additional US$20 million based on revenue milestones. Now operating as a subsidiary of Appen, Quadrant continues to provide location data, custom data collection, and compliance services to a global client base that includes industries like retail, finance, and transportation.