Goldman Sachs has backed a Silicon Valley company that provides data on private companies, as demand heats up for tools that help investors navigate a market in which start-ups are reaching multimillion-dollar valuations.

The bank's principal strategic investments group has participated in a $5 million funding round in DataFox, alongside other investors including fintech-focused venture capital firm Green Visor Capital, according to Bastiaan Janmaat, co-founder of DataFox and a former investment analyst at Goldman Sachs.