Dataminr, the information discovery software provider backed by financial services firm Credit Suisse, completed a $475m financing round yesterday valuing it at $4.1bn.
Eldridge, Valor Equity Partners, MSD Capital, Reinvent Capital, ArrowMark Partners, IVP and Eden Global provided the funding along with investment funds managed by investment banking firm Morgan Stanley’s Tactical Value subsidiary.
Founded in 2009, Dataminr has built a software platform that analyses public data from sources including social media, blogs, web forums, the deep and dark web, internet-of-things sensors, audio and radio transmissions in real time in order to detect patterns and unearth information.
Ted Bailey, founder and CEO of Dataminr, said: “We live in an increasingly unpredictable world, where 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, as organisations seek to equip themselves with the fastest, most comprehensive and most accurate real-time information.”
Undisclosed investors provided $221m in funding for the company in a 2018 round lifting its total funding to $880m, three years after Credit Suisse’s Next Investors subsidiary took part in its $130m series D round.
Investment and financial services group Fidelity, IVP, Wellington Management Company, Venrock and private investors John Mack, Vikram Pandit, Tom Glocer, Noam Gottesman and Nicolas Berggruen also took part in the 2015 round.
Venrock and IVP were existing investors in Dataminr, which is also backed by investment bank Goldman Sachs, GSV Capital, Deep Fork Capital WorldQuant Ventures, Glynn Capital and Wharton Equity Partners.
