Northgate Capital, which is majority owned by India-based financial services group Religare, has participated in a $42m C round of funding into US-based social data platform DataSift. DataSift is used by over 1000 corporate customers including Twitter, Facebook and Bloomburg to monitor trends and information. Private equity firm Insight Venture partners led the round with participation from Scale Venture Partners, Upfront Ventures, IA Ventures and Daher Capital.
The new funds will be used for international expansion and platform development.
Jeff Horing, co-founder of Insight Venture Partners, will now join DataSift’s board of directors.
This brings the total raised by DataSift to $72m since being founded in 2010. The company raised $15m in a B round in November 2012 led by Scale Venture Partners, $6m in a series A round in 2011 and $1.5m in seed funding in 2010 from David Richmound.