Bright Data, the company helping to drive the economy through web data collection

Data in all its forms has become the ingredient that all organisations rely on. Accessing web data on a huge scale has served multiple businesses in multiple ways, from decision-making to training AI systems to research, and more. Web data is invaluable. It can be used to support new business strategy, operations and investments as well as pricing strategies and new offers, brand reputation protection, entering new markets, and much more.

Web-based data is an indispensable tool for reflecting a comprehensive picture of a certain market, especially following the last two years. As such, it’s no surprise that the leading public web data collection platform, Bright Data, is experiencing a period of exponential growth. The last year has been punctuated by several significant milestones for the company – a rebrand, opening a second major global office in New York, launching The Bright Initiative, an organisation that uses data to drive positive change, building the team to over 350 employees, acquiring three companies, and reaching over US$100 million in annual revenues.

Where did the idea for Bright Data come from?

Bright Data (formerly Luminati Networks) was founded in 2014. The company’s initial product was a proxy infrastructure platform for businesses. In 2017, the company was acquired by a UK-based private equity firm, EMK Capital.

In early 2020, the company revolutionised its product offering by adding complete web data collection platform services. As a result, Bright Data’s CEO, Or Lenchner, and his team decided that a rebrand was necessary to better reflect the company’s new scope. So, in 2021, the company rebranded to Bright Data.

As Lenchner explains: “Our old name, Luminati, reflected our mission to provide every organisation transparent access to the internet. We’ve since expanded to become the world’s leading web data platform, with clients spanning almost every sector. Our new name, Bright Data, better conveys this expanded mission: to power innovation in every possible space through advanced public web data platforms and the delivery of high-quality reliable web data.”

Who does Bright Data work with?

The majority of Bright Data’s customers are part of the e-commerce and finance industry and rely on public web data collection to help with everything, from investment research to pricing strategy to ongoing offerings and product development and innovation. However, as more businesses are now turning to web data collection, they are working with clients from a variety of sectors. Currently, Bright Data practices over 35 use cases to serve its growing customer base.

Most of these are in the financial services sector. For example, investors are increasingly relying on publicly available web data – social media posts, company reports, job listings, and more – to identify trends and inform their investment strategies. The use of external data or ‘alternative data’ is particularly common in ESG (Environmental, Social & Governance) investing to shape investment strategies around major global issues like the supply chain crisis.

One of the major reasons companies choose Bright Data’s web data collection technology is to identify and mitigate fraud or damage to their brand reputation. For example, ad fraud – the generation of revenue via fraudulently represented digital ad impressions, clicks, conversions, and data – is a growing issue.

Deploying web data collection products means marketers can reduce the risk of fraud by verifying the accuracy of the campaign data they receive. Many brands are also using Bright Data’s platform to protect their intellectual property. The company’s infrastructure allows brands to easily identify those who harm or intend to harm their reputation.

According to Lenchner, “With so many potential uses of web data gathering, the task is on us – as a data technology provider – to ensure our products are used responsibly. We take this extremely seriously.” Therefore, setting, meeting, and openly reporting on its compliance targets remain a core focus for Bright Data in its commitment to total transparency around its compliance processes.

“Throughout 2021, we turned down opportunities to work closely with more than 800 potential customers, as they didn’t meet our strict compliance criteria. It might seem counterintuitive for a company to pride itself on rejecting customers but trusting the data you receive starts with trusting your provider,” says Lenchner.

“Running a state-of-the-art trustworthy web data platform greatly relies on keeping it compliant and secure,” adds Ron Kol, Bright Data’s CTO and Chief Information Security Officer.

“As our thousands of customers’ demands grow, our technological innovation will also continue to increase its compliance edge so our customers can continue relying on Bright Data with absolute trust. Dedicating our hard-earned expertise to these regulatory steps is one of our company’s primary goals and will continue to be through 2022,” Kol concludes.

Expanding the workforce

Last year, Bright Data announced the opening of a New York office, its second main office globally. The opening of the New York office demonstrates the increase in business activity and customer base, including its expanded services towards mid-market and enterprise-focused activities. Its physical presence in the United States will act as the fuel to continue driving this growth.

“Whether web data is used for responding to crises in real-time, maintaining a competitive edge, or reflecting consumer sentiments, public web data is flexible, sharp, and reliable. We are empowering businesses to make vital strategic decisions so they can win more and lose less,” said Lenchner at the time of the New York office launch.

In light of the company’s recent growth, Lenchner shares his thoughts: “The demand for web data has increased and now addresses more than just traditional needs. More and more industries are now turning to public web data as a reliable source of information for up-to-the-minute insights. Even once-reluctant industries such as financial services companies are now adding web data to their ongoing data sources.

“As the leading web data collection platform, we addressed and continue to address versatile, and I would go as far as saying creative, data needs to serve major players in the e-commerce, finance, and security sectors as well as academic institutions, and more.  Bright Data’s mission remains the same: to provide transparent access to the world’s largest database – and that is the internet. With that data, companies and organisations can openly research, complete, and offer innovative products and services and even save lives.”

Data4Good – accelerating global positive changes through data

In addition to providing some of the world’s most established businesses access to web data – including Fortune 500 firms – Bright Data recognises the value of data to mission-critical projects and certain life-saving missions.

The Bright Initiative is a global organisation that provides academic institutions and researchers, NGOs, nonprofits, and public bodies with pro-bono access to Bright Data’s cutting-edge technology and extensive expertise. The Initiative runs an average of eight learning academic sessions a month involving some of the world’s leading academic institutions as well as non-profit organisations.

“As innovators and industry leaders in the field of web data, we have a duty to ensure our technology doesn’t just drive business profits but also brings about positive social and environmental change,” says Lenchner.

“Through The Bright Initiative, we’re helping organisations to harness the power of public web data to fight social injustice, combat climate change, promote digital transparency, impact public nationwide policies, educate others about responsible data-gathering processes, inform other valuable academic research, and much more.”

The Initiative is made up of over 400 global organisations. Members include various charities at the forefront of the fight against human trafficking and the exploitation of minors as well as top universities, like Princeton and Oxford.

One of the Initiative’s main goals is to develop data skills and promote responsible data usage globally. One of the ways the Initiative is working to meet this goal is through supporting the implementation of the UK’s National Data Strategy (NDS) and working with the Department for Culture, Media and Sport (DCMS).

“This requires close collaboration between the public, private, and third sectors. During the past year, The Bright Initiative facilitated discussions between business leaders and the UK’s Minister of State for Media and Data at the time as well as among senior government data professionals,” says Lenchner.

“We are also working directly with the DCMS. I’m delighted to be part of the Department’s NDS Forum, where I can share insights on data markets and skills needs – a subject I’m passionate about!”

After a record-breaking 2021, the future certainly looks brighter than ever. “We are the leading web data collection platform and 2022 will be the year that web data makes a greater impact and is used by plenty more organisations,” concludes Lenchner. “All I can say is the internet is the place where reality happens by the second… so watch this space!”

Learn more about Bright Data and The Bright Initiative