|[June 12, 2013]
Dataminr Raises $30 Million in Funding Led by Venrock and IVP
NEW YORK --(Business Wire)--
Dataminr raises a $30M venture capital round of funding led by Venrock
and Institutional Venture Partners (IVP). Dataminr is a New York-based
real-time information discovery company. Dataminr's real-time analytics
engine transforms raw social media streams into actionable signals,
providing enterprise clients with one of the earliest warning systems
for relevant information, noteworthy events, and emerging trends.
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 workflow 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 o 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 (News - Alert), 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
Funding includes $25 million from Venrock and IVP and $5M from existing
investors, including GSV Capital Corp, Deep Fork Capital, and Wharton
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 company's
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.�Dataminr's 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 (News - Alert),
Intel, CheckPoint Software, DoubleClick, AppNexus, Gilead Sciences,
Illumina, AthenaHealth, Millennium Pharmaceuticals and Castlight Health.
Venrock has offices in Palo Alto (News - Alert), CA; New York, NY; and Cambridge, MA.
For more information, please visit Venrock's 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 (News - Alert) (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 (News - Alert) (ZNGA). For more information, visit http://ivp.com
or follow IVP on Twitter: @ivp
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