NYC-based real-time information discovery company, Dataminr closed a $475m financing round at a $4.1bn valuation.
The round, which brings its total funds raised to $570m, had a list of investors including Eldridge, Valor Equity Partners, MSD Capital, Reinvent Capital, ArrowMark Partners, IVP, Eden Global, investment funds managed by Morgan Stanley Tactical Value and Lurra Capital, private capital investment firm headquartered in Switzerland.
The company intends to use the funds to accelerate growth of its corporate enterprise business line and make further investments in internationalisation, expanding its private and public sector sales presence across the Europe and Asia-Pacific regions.
Dataminr will also broaden the scope of its AI Platform through deeper investment in fields of AI, spanning multi-modal event detection, multi-modal fusion AI and dynamic human-AI feedback loops with domain experts.
Founded in 2009 and led by CEO Ted Bailey, Dataminr provides a real-time information discovery platform which detects digital patterns of emerging events and critical information from public data signals that might be relevant for its customers. Its algorithms aggregate data from more than 100,000 data sources including social media platforms, the dark web and IoT sensors, among many others.
Alongside its corporate product Dataminr Pulse, the company provides public sector organisations with First Alert for first response and Dataminr for News, which is used in more than 650 newsrooms and by over 30,000 journalists around the world.
The firm boasts of a clientele that includes Citibank, United Parcel Service of America Inc., The Washington Post and Dyson Ltd. among others. Furthermore, the startup claims it doubled revenues every year for the past three years.
Commenting on the funding round, Bailey said, “Dataminr’s unparalleled ability to detect breaking events and critical information far in advance of other sources is more relevant than ever for the world’s public and private sector organisations.
“Today, more than half of the Fortune 50 rely on Dataminr and this additional capital will enable the company to accelerate client growth, both in the US and abroad.”
Given that the global data analytics market is expected to be valued at over $132bn by 2026, according to Market Research Future predictions, it’s easy to see how startups like Dataminr are scaling up.
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