Earlier in December KPMG Capital, a new funding wing set up by KPMG International, whose first investment fund was created to accelerate innovation in data and analytics, had revealed acquiring a substantial equity stake in Bottlenose Inc.
Existing investors, including Lerer Ventures, Transmedia Capital, ff Venture Capital, and others, were joined by new investor Origin Ventures, taking Bottlenose’s total funding till date to approximately $17 million. The round however is yet to close with co-founder and CEO Nova Spivack expecting more in terms of venture debt.
Helping with the expansion of the business and further development of its product-line, the new investment will also help grow the existing workforce of 40 to 80, Tech Crunch reports.
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By analyzing real-time streaming data, the cloud-based trend intelligence solution, enables enterprises to identify, anticipate and monitor the trends that drive their businesses.
As pointed out by Tech Crunch, if ‘Twitter currently sees around a billion messages a day on its service’ then Spivack says, that ‘Bottlenose is now analyzing 72 billion data records and messages daily.’
For clients like Pepsi, Warner Bros., DigitasLBI, Razorfish, FleishmanHillard, and others, Bottlenose analyzes live TV and radio data in real-time, using speech-to-text conversions, with enterprise data sources, like sales data, log data, transaction data, and even firewall data also available now.
In the wake of high-profile data breaches last year, Spivack explains how breach detection is an opportunity for Bottlenose as it makes sense of data from across sources: “If hackers are talking about a company, and we see also corresponding, correlated activity on that company’s firewall, that’s actually a good indicator that there’s actually something happening.”
(Image credit: Bong Grit, via Flickr)