Big data firm Dataminr has raised a Series D to fuel its expansion into additional verticals. The New York-based startup uses complex algorithms to sift and comb through real time public data. As a strategic partner of Twitter, Dataminr has direct access to the company's data firehose, and uses it to spot relevant information that it delivers to clients.
Dataminr, a startup that parses and crawls the vast glut of real-time informatio posted on social media sites like Twitter to extract key developments for public safety, bankers and news organizations, has confirmed that it’s raised another $130 million in funding. The funding — a Series D led by Fidelity — will be used to expand into new enterprise verticals, with risk management being a key new area. The company also plans to take the U.S.-based service to more geographies. “This capital will enable our company to meet the tremendous global demand for our products, expand into a number of new markets, and integrate valuable new datasets into our algorithmic engine to enhance our Twitter-based signals and broaden our offerings,” Bailey, CEO and co-founder of Dataminr said in a statement.