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Insight leads $42m financing for Twitter, social media data trawler DataSift

4 Dec 2013

TwitterInsight Venture Partners has led a weighty $42m Series C financing round for social media data business DataSift to help expand the burgeoning business.

The funding brings the total raised by DataSift to more than $70m thanks to previous backing from Scale Venture Partners, Upfront Ventures, IA Ventures, Northgate Capital, Daher Capital and Cendana Capital.

All seven firms reinvested in the company through the latest round, which DataSift said would be used to improve its social data platform, expand into new geographies, build its sales and marketing teams and expand into new data types including internal enterprise data.

The company’s software enables businesses to aggregate, filter and extract trends and insights from the billions of public social conversations on Twitter and other social networks.

Insight managing director Jeff Horing said, “DataSift fits with our mission of investing in visionary companies driving change and innovation.

“DataSift’s technology enables real insight into customers, trends and products and we look forward to supporting management as they pioneer new ways of using social media and unstructured data to inform business decisions.”

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