REV Ventures, the corporate venturing arm of data analytics provider Relx, has invested about $10m to lead a $37.5m funding round for US-based information analysis software developer Quid, Bloomberg reported on Monday.
The round included building materials supplier Lixil, Salesforce Ventures, the corporate venture capital subsidiary of enterprise software producer Salesforce, Artis Ventures, Founders Fund and private investors Julian Roberson and Henry Kravis. The company has also raised $8m in venture debt.
Founded in 2007 as YouNoodle before rebranding in 2010, Quid has created software that combines unstructured data from corporate websites, news sites and public online platforms such as Twitter, and analyses it to help businesses get a clearer strategic view of their sector.
The data is then visualised to help clients understand how and where companies are intersecting with their activities. The product costs approximately $25,000 for a single annual subscription and Quid has booked $28m in sales over the past year, according to Bloomberg.
Quid raised $39m in a 2015 series D round featuring media group Liberty Interactive, Artis Ventures, Subtraction Capital, Tiger Partners, Buchanan Investments, Thomas Lee Limited Family Partnership II, Quid chairman Charles Lho and Quid director Michael Patsalos-Fox.
The company had previously received $10m in funding from Founders Fund, Atomico, Endeavour Vision, Infocomm Investments, Lho and fellow private investors Ron Conway and Max Levchin in 2011.
