{"id":23615,"date":"2021-03-29T04:50:46","date_gmt":"2021-03-29T04:50:46","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/dataminr-raises-475m-on-a-4-1b-valuation-for-real-time-insights-based-on-100k-sources-of-public-data.html"},"modified":"2021-03-29T04:50:46","modified_gmt":"2021-03-29T04:50:46","slug":"dataminr-raises-475m-on-a-4-1b-valuation-for-real-time-insights-based-on-100k-sources-of-public-data","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/dataminr-raises-475m-on-a-4-1b-valuation-for-real-time-insights-based-on-100k-sources-of-public-data.html","title":{"rendered":"Dataminr raises $475M on a $4.1B valuation for real-time insights based on 100k sources of public data"},"content":{"rendered":"

Significant funding news today for one of the startups making a business out of tapping huge, noisy troves of publicly available data across social media, news sites, undisclosed filings and more. Dataminr<\/a>, which ingests information from a mix of 100,000 public data sources, and then based on that provides customers real-time insights into ongoing events and new developments, has closed on $475 million in new funding. Dataminr has confirmed that this Series F values the company at $4.1 billion as it gears up for an IPO in 2023.<\/p>\n

This Series F is coming from a mix of investors including Eldridge (a firm that owns the LA Dodgers but also makes a bunch of other sports, media, tech and other investments), Valor Equity Partners (the firm behind Tesla and many tech startups), MSD Capital (Michael Dell\u2019s fund), Reinvent Capital (Mark Pincus and Reid Hoffman\u2019s firm), ArrowMark Partners, IVP, Eden Global and investment funds managed by Morgan Stanley Tactical Value, among others.<\/p>\n

To put its valuation into some context, the New York-based company last raised money in 2018<\/a> at a $1.6 billion valuation. And with this latest round, it has now raised over $1 billion in outside funding, based on PitchBook data<\/a>. This latest round has been in the works for a while and was rumored last week<\/a> at a lower valuation than what Dataminr ultimately got.<\/p>\n

The funding is coming at a critical moment, both for the company and for the world at large.<\/p>\n

In terms of the company, Dataminr has been seeing a huge surge of business.<\/p>\n

Ted Bailey, the founder and CEO, said in an interview that it will be using the money to continue growing its business in existing areas: adding more corporate customers, expanding in international sales and expanding its AI platform as it gears up for an IPO, most likely in 2023. In addition to being used journalists and newsrooms, NGOs and other public organizations, its corporate business today, Bailey said, includes half of the Fortune 50 and a number of large public sector organizations. Over the last year that large enterprise segment of its customers doubled in revenue growth.<\/p>\n

\u201cWhether it\u2019s for physical safety, reputation risk or crisis management, or business intelligence or cybersecurity, we\u2019re providing critical insights on a daily basis,\u201d he said. \u201cAll of the events of the recent year have created a sense of urgency, and demand has really surged.\u201d<\/p>\n

Activity on the many platforms that Dataminr taps to ingest information has been on the rise for years, but it has grown exponentially in the last year especially as more people spend more time at home and online and away from physically interacting with each other: that means more data for Dataminr to crawl, but also, quite possibly, more at stake for all of us as a result: there is so much more out there than before, and as a result so much more to be gleaned out of that information.<\/p>\n

That also means that the wider context of Dataminr\u2019s growth is not quite so clear cut.<\/p>\n

The company\u2019s data tools have indeed usefully helped first responders react in crisis situations, feeding them data faster than even their own channels might do; and it provides a number of useful, market-impacting insights to businesses.<\/p>\n

But Dataminr\u2019s role in helping its customers \u2014 which include policing forces \u2014 connect the dots on certain issues has not always been seen as a positive. One controversial accusation made last year<\/a> was that Dataminr data was being used by police for racial profiling. In years past, it has been barred<\/a> by specific partners like Twitter from sharing data with intelligence agencies. Twitter used to be a 5% shareholder in the company. Bailey confirmed to me that it no longer is but remains a key partner for data. I\u2019ve contacted Twitter to see if I can get more detail on this and will update the story if and when I learn more. Twitter made $509 million in revenues<\/a> from services like data licensing in 2020, up by about $45 million on the year before.<\/p>\n

In defense of Dataminr, Bailey that the negative spins on what it does result from \u201cmisperceptions,\u201d since it can\u2019t track people or do anything proactive. \u201cWe deliver alerts on events and it\u2019s [about] a time advantage,\u201d he said, likening it to the Associated Press, but \u201cjust earlier.\u201d<\/p>\n

\u201cThe product can\u2019t be used for surveillance,\u201d Bailey added. \u201cIt is prohibited.\u201d<\/p>\n

Of course, in the ongoing debate about surveillance<\/a>, it\u2019s more about how Dataminr\u2019s customers might ultimately use the data that they get through Dataminr\u2019s tools, so the criticism is more about what it might enable rather than what it does directly.<\/p>\n

Despite some of those persistent questions about the ethics of AI and other tools and how they are implemented by end users, backers are bullish on the opportunities for Dataminr to continue growing.<\/p>\n

Eden Global Partners served as strategic partner for the Series F capital round.<\/p>\n

\n

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Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/LAxuxOrH7JA\/<\/p>","protected":false},"excerpt":{"rendered":"

Significant funding news today for one of the startups making a business out of tapping huge, noisy troves of publicly available data across social media, news sites, undisclosed filings and <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-23615","post","type-post","status-publish","format-standard","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t