Data business is hard for a few reasons:
1. Data is a commodity until it is not. People's contact information is a 'done to death' problem but not solved yet (and probably not solvable completely)
2. Data is capital intensive
3. Data businesses (and the modern ones at that) are more annuity businesses and less like SaaS. Monthly recurring patterns take time to emerge and you need investors that understand this dynamic. They will if you prove that your core hypothesis works and customers are buying more (if not following a strict monthly pattern).
4. You need to have enough money and execution speed to prove your hypothesis. Unlike software where customer development and execution discipline can help you launch a good product, in the data business you need to stitch partnerships early on with data sources. That's not easy.
You tried. Again, I'd love to read your reflections on what you could've done differently.