“This newly raised capital will enable Dataminr to meet the tremendous global demand for our products, expand into new verticals, and integrate valuable new datasets into our algorithmic engine to enhance our Twitter-based signals and broaden our offering. The explosion of real-time public data will only continue in the years to come and Dataminr’s ambition is to continue being the leader in discovering valuable signals from within this exponentially broadening sea of data,” explained CEO and Founder of Dataminr, Ted Bailey.
Founded in 2009, Dataminr’s proprietary algorithm allows for instant analyses of public tweets and other publicly available data to provide its clients with the earliest warning for ‘breaking news, real-world events, off the radar content, and emerging trends.’
It can identify and filter out valuable real-time information providing relevant insight and contextual analytics. Dataminr’s boasts customers in finance, the public sector, news, security, and crisis management.
The latest investment puts the company at a $700 million valuation. The round was led by Fidelity Management and Research Company, with additional institutional investments from Wellington Management Company LLP, Credit Suisse NEXT Investors, and other existing Dataminr investors Venrock and Institutional Venture Partners. Some of the other investors include Vikram Pandit, former CEO of Citigroup, Tom Glocer, former CEO of Reuters, Glynn Capital and Goldman Sachs.
Image credit: Dataminr