Dataminr Raises $0 Million in Funding Led by Venrock and IVP
12/06/2013
Ted Bailey, Founder & CEO of Dataminr remarked, We are extremely pleased to have secured this new round of capital and the endorsement of such prestigious firms as Venrock and IVP. The competitive advantage of time and unique information that we deliver to our clients cannot be overstated. Dataminr's world-class team of PhDs and data scientists has spent years mastering the new science of information discovery in social media and has developed highly sophisticated algorithms that break new ground. To meet rapidly increasing demand for our offering, Dataminr will deploy this funding to accelerate growth in our current markets and to expand into new verticals.
One of Dataminr's core market verticals is financial services. Dataminr frequently alerts its clients to market-moving information before it appears in news outlets, providing financial professionals with a trading advantage. Dataminr offers a web-based desktop application to buy-side and sell-side clients that delivers early and differentiated information directly into the work-flow of financial professionals.
Nick Beim, Partner of Venrock, said, Dataminr has emerged as the clear leader in the new and valuable category of real-time information discovery, helping identify significant events before they become news. The company has a tremendous opportunity to create systemic disruption in industries that rely on real-time information. I am very excited to be joining the Dataminr board and look forward to helping the company build on its impressive growth.
Norm Fogelsong, General Partner of IVP, said, Dataminr's tremendous momentum is a natural fit for IVP's long track record of investing in companies with incredible growth prospects and the ability to scale. We are very pleased to be part of the next stage of the company's development and growth path.
Through a strategic relationship with Twitter, Dataminr accesses Tweets in real-time. Continued Ted Bailey, Founder & CEO of Dataminr, With more than 200 million active users, Twitter is a truly global network, capturing breaking information from people around the world. Our proprietary real-time multivariable algorithms dynamically cross-correlate public Tweets with a wide variety of other data-sets to identify the most relevant and actionable information when it first emerges.
Funding includes $25 million from Venrock and IVP and $5M from existing investors, including GSV Capital Corp, Deep Fork Capital, and Wharton Equity Partners.
About Dataminr: Dataminr is a New York-based real-time information discovery company that enables real-time data-driven decisions for enterprise clients. Clients receive alerts ahead of other sources, often far in advance of mainstream news. The companys sophisticated software alerts clients to actionable opportunities when they first emerge in social media, eliminating the need for manual monitoring of raw big data streams. Dataminrs desktop applications deliver signals directly into client work flows, provide contextual analytics, and integrate directly into enterprise systems.
About Venrock: Originally established as the venture capital arm of the Rockefeller family, Venrock continues an eight-decade tradition of partnering with entrepreneurs to create industry-defining companies. Successful Venrock portfolio companies include Apple, Intel, CheckPoint Software, DoubleClick, AppNexus, Gilead Sciences, Illumina, AthenaHealth, Millennium Pharmaceuticals and Castlight Health. Venrock has offices in Palo Alto, CA; New York, NY; and Cambridge, MA. For more information, please visit Venrocks website at www.venrock.com and follow the firm on Twitter at @venrock.
About Institutional Venture Partners (IVP): With $4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 94 of which have gone public. IVP is one of the top performing firms in the industry and has a 32-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Concur Technologies (CNQR), Dropbox, Fleetmatics (FLTX), HomeAway (AWAY), Juniper Networks (JNPR), Kayak (KYAK), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter and Zynga (ZNGA). For more information, visit http://ivp.com or follow IVP on Twitter: @ivp
LINK: | http://www.ivp.com/news/press-release/dataminr-raises--30-million-in-f... |
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