US-based big data analysis company SpaceCurve upped its series A round to $2.7m on Tuesday with investors including Reed Elsevier Ventures, the corporate venturing fund for Reed Elsevier.
Family run venture fund Musea Ventures joined Reed Elsevier and venture capital firm Divergent Ventures, a previous investor. Reed Elsevier and previously Divergent contributed to the round’s prior tranche in December, as well as an August 2010 seed round that raised $1.1m.
SpaceCurve is in the process of creating a spatial-temporal database that maps big data for location-based services, including social applications, commodities, defense and emergency services.
Tony Askew, general partner at Reed Elsevier Ventures, said: "SpaceCurve is solving a big data problem that no one is addressing today at a major turning point in the market – the ability to track the locations of entities in space and time as they happen, and immediately identify the relationships between them.
"With John joining Andrew Rogers, founder, CTO and big data expert, we are adding what SpaceCurve needs to capture this tremendous market opportunity: proven strategic and management success growing technology companies."
In addition to the funding, John Slitz has joined SpaceCurve as chief executive officer (CEO). Slitz is the founder of consultancy firm Focal Point and sporting tournament the World Series of Golf, and has held senior positions at computing firm IBM, and software companies Novell and Systems Research and Development, where he was CEO prior to its acquisition by IBM in 2005.