Dataminr Grabs $130 Million in Funding as It Expands Customer's Base Beyond Finance

After initially having a focus on the financial industry, Dataminr has found success in other sectors for its real-time data analysis product. Using social streams such as Twitter, Dataminr is able to alert clients of news happenings in real-time before they are recognized by the mainstream media. With advancement of its product, Dataminr’s now includes customers in the financial, media and government sector, using the service for its real-time alerts.

Following the growth, Dataminr announced that it has raised $130 million in a Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term with heavy participation from the financial sector. The funding follows a $30 million round raised in 2013 and illustrates the strong interest among investors for Big Data Big Data Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome Read this Term related startups. Participating in the round, include Fidelity Investments and Goldman Sachs as well as John Mack, former CEO of Morgan Stanley, Vikram Pandit, former CEO of Citigroup and Tom Glocer, former CEO of Reuters.

According to Ted Bailey, Founder and CEO of Dataminr, in a blog post about the deal, the funding will be used to “enable Dataminr to meet the tremendous global demand for our products, expand into new verticals, and integrate valuable new datasets into our algorithmic engine to enhance our Twitter-based signals and broaden our offering." As an example of the their growth in non-financial sectors, Bailey stated that since launching ‘Dataminr for News’ last year, it has grown from being used at one newsroom to 150. He added that their service was being integrated by government institutions that use the solution to help first responders be alerted in real-time about disasters.

Within the financial industry, Dataminr is used by traders who configure the real-time search to alert them about potential price moving events for stocks and other traded assets before they are reported by traditional media sources.