28 December 2025

Start-Up Enigma to Expand Commercial Business

#
Share This Story

Officials in New Orleans were well aware of the risks posed in homes without smoke detectors, and had a program to give them free to anyone who asked. But that clearly was not working. So after the Broadmoor fire, city officials decided to try to a new approach — targeted outreach to install smoke detectors in the homes most at risk. To help pick the homes for the installation, they turned to a New York start-up, Enigma.io, a specialist in the field of open data, which involves collecting, curating and mining public government information for insights.

A small team from Enigma worked with New Orleans analysts, poring over city demographic, building and fire reports going back years. In March, the city announced a data-guided, door-to-door smoke alarm initiative, focused on higher-risk homes. Factors associated with higher risk included poverty, the age of the house and the presence of young children or very old residents.

The New Orleans job was a pro bono project for Enigma, but one that demonstrated the sorts of insights that can be pulled out of open data. The young company and a handful of others like it are betting the same will increasingly prove to be true in the corporate world. Open data, as a philosophy and a practice, has been animated by a sense of civic activism — that transparency will yield social benefits. The Obama administration endorsed the concept in 2009 when it introduced data.gov, a website providing access to federal government data sets. Many state and city governments took similar steps, as did governments around the world.

This new breed of open data companies represents the next step, pushing the applications into the commercial mainstream. Already, Enigma is working on projects with a handful of large corporations for analyzing business risks and fine-tuning supply chains — business that Enigma says generates millions of dollars in revenue.

The four-year-old company has built up gradually, gathering and preparing thousands of government data sets to be searched, sifted and deployed in software applications. But Enigma is embarking on a sizable expansion, planning to nearly double its staff to 60 people by the end of the year. The growth will be fueled by a $28.2 million round of venture funding, led by New Enterprise Associates, that will be announced on Tuesday.

The expansion will be mainly to pursue corporate business.  Large software and services companies, like IBM and the Silicon Valley start-up Palantir, routinely cull public data in assignments for government and corporate clients. So do suppliers of analytics software, like SAS Institute and Microsoft. But Enigma, analysts say, appears to occupy a distinctive niche, combining an unusually comprehensive data service of thousands of public data sets and software to help companies manipulate and analyze those data sets.

Hicham Oudghiri, a co-founder of Enigma, demonstrated an application of his company’s service during the TechCrunch Disrupt conference in 2013. The goal, said Marc DaCosta, Enigma’s chairman and co-founder, is to bring open data in as tool of discovery and decision-making, integrated into the day-to-day operations of companies.

For about a year, Enigma has been working with the pharmaceutical maker Merck to help fine-tune its supply chain and manufacturing operations. Enigma’s technology has been used to collect contract and tender information, especially from single-payer national health systems. Websites and online documents are scraped to give Merck a sharper global view of demand.

Enigma was born of the challenges of working with open data experienced by its founders, Mr. DaCosta and Hicham Oudghiri, Enigma’s chief executive, former roommates at Columbia University. Years later, they both found themselves grappling with data-driven projects — climate mapping for Mr. DaCosta and sustainable finance for Mr. Oudghiri. The open data movement was getting underway, creating lots of raw data in need of refinement.

Click here to access the full article on The New York Times.

Join Our Online Community
Join the Better Way To Retire community and get access to applications, relevant research, groups and blogs. Let us help you Retire Better™
FamilyWealth Social News
Follow Us