AI giant to accelerate UK growth with $475m financing
Posted on April 12, 2021 by Jonathan Symcox
A US company employing 100 people in London and Dublin is targeting growth in the region after raising a whopping $475 million financing.
Dataminr, headquartered in New York, is a real-time information discovery platform which detects digital patterns of emerging events and critical information from public data signals.
Founded in 2009, the platform performs trillions of daily computations across billions of public data inputs from over 100,000 unique public data sources.
It aims to enhance physical safety and security, reputation risk and crisis management, business intelligence, and cyber threat detection.
Founder and CEO Ted Bailey told BusinessCloud that the money – which values Dataminr at more than $4 billion – will be used in part to “significantly broaden our international footprint”.
“Given increased global instability in recent years, the international demand for Dataminr has surged for both corporations and public sector organisations seeking to equip themselves with the fastest, most comprehensive, and most accurate real-time information,” he said.
“In fact, over half of the Fortune 50 rely on Dataminr for a growing set of strategic and high-value use cases across the corporate enterprise.
“Currently, Dataminr has a UK headquarters in London and an office based in Dublin together employing about 100 people. This infusion of capital will accelerate our growth in the region.”
Investors in the financing include Eldridge, Valor Equity Partners, MSD Capital, Reinvent Capital, ArrowMark Partners, IVP, Eden Global and investment funds managed by Morgan Stanley Tactical Value.
The company said it will also use the new capital to continue its rapid public data source expansion across global and regional social media platforms, blogs, web forums, audio and radio transmissions, the deep and dark web, cyber signals, and public IoT sensors.
It will also continue to broaden the scope of its AI platform through deeper investment in fields of AI that the company has pioneered, spanning multi-modal event detection, multi-modal fusion AI, and dynamic human-AI feedback loops with domain experts.
“We are only at the beginning of the explosion of public digital data that describes the world’s real-time events,” said Bailey.
“Dataminr will use this new capital to pursue its mission of integrating all available public data signals to create the leading event and information discovery platform for the world’s businesses and public sector organisations.”
In late 2019, Dataminr delivered the first digital warning on COVID-19 and provided a valuable leading indicator on impending COVID-19 case count growth as the pandemic swept across the world.
Alongside Dataminr’s corporate product, Dataminr Pulse, the company provides public sector organisations with First Alert for first response, including the United Nations, which uses First Alert in over 100 countries. Dataminr for News is relied on in more than 650 newsrooms and by over 30,000 journalists around the world.
Eden Global Partners served as strategic partner for the Series F capital round, and J.P. Morgan served as the company’s placement agent with respect to investments made by J.P. Morgan’s private banking clients.