Dataminr, a real-time social media analytics company serving the financial and government sectors, today announced that it has completed a $13 million Series B round of equity financing.
The round included new investment from several institutional investors, as well existing Series A investors from the financial industry.
Proceeds from the round will be used to drive new client acquisition, continue technology innovation and meet the growing market demand for its product suite. Dataminr is expanding its client base in both the financial and government sectors and recently bolstered its team to include financial industry talent from Morgan Stanley, Goldman Sachs, Merrill Lynch, Reuters and RBC, and seasoned government professionals with experience at the U.S. Department of Defense and U.S. Department of State.
Dataminr's broad suite of modular desktop products transform social media streams into actionable signals. Powered by proprietary algorithms and an industry-leading event detection system, Dataminr identifies hotspots of activity across Twitter and provides clients with one of the earliest warning systems for market relevant information, noteworthy events, and emerging trends.
Dataminr's web-based financial product delivers real-time alerts and proprietary analytics to generate trading ideas and uncover alpha opportunities. "Dataminr effectively integrates social media into the daily investment process of the institutional financial professional," said Ted Bailey, Founder and CEO of Dataminr. "Our products empower financial professionals with an informational advantage."
The company also offers client-specific solutions to federal, state and local government agencies, aimed at delivering early warnings and situational awareness via custom signal streams. Clients can take advantage of Dataminr's capabilities for geo-targeting, integration of internal proprietary data-sets, and multivariable event detection
Dataminr's multi-year partnership with Twitter includes real-time access to the full Twitter Firehose. The company's powerful analytics engine processes Tweets in the aggregate, detecting real-time linguistic and propagation patterns across the over 400 million public Tweets shared on Twitter daily. Dataminr was recently selected as a Certified Product at the launch of Twitter's new Certified Products Program.