Factual, Inc., a Los Angeles, CA-based collaborative data platform and web service, has secured $25m in its first round of financing.
The round was co-led by Andreessen Horowitz and Index Ventures, with participation from Michael Ovitz and SV Angel, founded by Ron Conway.
In conjunction with the funding, Ben Horowitz and Danny Rimer, from Andreessen Horowitz and Index Ventures, respectively, will join Factual’s board of directors.
The company intends to use the funds to expand its data offerings and services, and hire new staff (http://www.factual.com/jobs).
“With the new funding and support of our superstar team of investors, we can become a driving force in the open data revolution that’s transforming the web (and the world) as we know it”, Gil Elbaz, CEO/Founder of Factual said.
The company’s platform allows developers and publishers to create innovative applications by accessing data through various APIs. In September, the company launched local datasets for business in the US, Australia, Indonesia, Ireland, Italy, Japan, Mexico, Russia, Singapore, Spain and the UK. Factual has also signed partnership deals with Home Junction and Booyah, and is delivering local data for Facebook® Places.
Founded in 2007, the company secured $2m in angel funding earlier this year.
FinSMEs
09/12/2010