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Venrock, Institutional Venture Partners lead $30m Dataminr financing round

12 Jun 2013

DataminrVenrock and Institutional Venture Partners have provided the bulk of a $30m of financing to real-time social media analytics business Dataminr.

A total of $25m came from Venrock and IVP, with the remaining $5m from existing investors including GSV Capital Corp, Deep Fork Capital and Wharton Equity Partners.

One of Dataminr’s core programmes is within financial services, where it attempts to alert clients to market-moving information before it appears in news outlets, giving them a trading advantage.

Venrock partner Nick Beim said, “Dataminr has emerged as the clear leader in the new and valuable category of real-time information discovery, helping identify significant events before they become news.

“The company has a tremendous opportunity to create systemic disruption in industries that rely on real-time information.

“I am very excited to be joining the Dataminr board and look forward to helping the company build on its impressive growth.”

Norm Fogelsong, General Partner of IVP, added, “Dataminr’s tremendous momentum is a natural fit for IVP’s long track record of investing in companies with  incredible growth prospects and the ability to scale.

“We are very pleased to be part of the next stage of the company’s development and growth path.”

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