The new funding will accelerate growth of the company's corporate business line, international sales, and AI Platform expansion
NEW YORK, March 23, 2021 /PRNewswire/ -- Dataminr, the leading real-time information discovery platform, today announced the close of a $475 million financing round at a $4.1 billion valuation. 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 infusion of new capital will fuel growth of the company's corporate enterprise business line, which has doubled in revenue three years in a row as clients have expanded use of Dataminr's platform across physical safety & security, reputation risk & crisis management, business intelligence, and cyber threat detection. The company will also make further investments in internationalization, expanding its private and public sector sales footprint across the Europe and Asia-Pacific regions to meet the growing global demand for its product.
"We live in an increasingly unpredictable world, where Dataminr's unparalleled ability to detect breaking events and critical information far in advance of other sources is more relevant than ever for the world's public and private sector organizations," said Dataminr Founder and CEO Ted Bailey. "Today, more than half of the Fortune 50 rely on Dataminr, and this additional capital will enable the company to accelerate client growth, both in the US and abroad, as organizations seek to equip themselves with the fastest, most comprehensive, and most accurate real-time information."
Since its founding in 2009, Dataminr has created the world's leading real-time information discovery platform which detects digital patterns of emerging events and critical information from public data signals. Today, Dataminr's leading AI Platform performs trillions of daily computations across billions of public data inputs from over 100,000 unique public data sources.
The company will use this 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. Additionally, Dataminr will 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 organizations."
The company has been recognized for its groundbreaking AI Platform and rapid revenue growth and by Forbes AI 50 and Deloitte Fast 500. 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 organizations 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.
ABOUT DATAMINR Dataminr is the world's leading real-time information discovery platform, delivering the earliest warnings on high impact events and critical information far in advance of other sources. Recognized as one of the world's leading AI businesses, Dataminr enables faster response, more effective risk mitigation, and stronger crisis management for public and private sector organizations spanning global corporations, first responders, NGOs, and newsrooms. Dataminr is one of New York's top private technology companies, with 650 employees across seven global offices.