SpaceCurve, a US-based big data platform, has raised a $10m series B round of financing led by venture capital firm Triage Ventures, with participation from existing investors Reed Elsevier Ventures, the corporate venture capital fund of professional information business Reed Elsevier, and early stage venture capital investment firm Divergent Ventures.
The funds will be used to expand sales and marketing in support of the first release of the SpaceCurve platform scheduled for the third quarter of 2013.
Doug Derwin, managing director of Triage Ventures, said: “In the rapidly changing and highly competitive big data market, SpaceCurve has shown an amazing ability to excite customers who are pushing the current limits of big data technologies and looking to build new applications and services to disrupt markets.”
John Slitz, chief executive officer of SpaceCurve, said: “This round of financing allows us to remain at the forefront of the big data market and effectively provide immediately actionable intelligence that will be a requirement for companies in the future.”
SpaceCurve has now secured at least $18.8m in funding from across its A and B rounds and seed financing. In August 2012, SpaceCurve upped its series A round by $3.5m, from a consortium including Reed Elsevier Ventures. In February 2012, venture fund Musea Ventures joined Reed Elsevier Ventures and Divergent in providing $2.7m to the A round. Reed Elsevier and Divergent had previously contributed to the round’s prior tranche of £1.5m in December 2011, as well as an August 2010 seed round that raised $1.1m.