AlchemyAPI, a Denver, Colorado-based provider of a SaaS text mining platform that delivers semantic tagging to developers, raised $2m in Series A financing.
The round was led by Access Venture Partners.
The company intends to use the capital to expand its sales and marketing efforts, hire new people (read here) and launch new solutions.
Launched in 2009 by CEO Elliot Turner, AlchemyAPI offers a cloud-based text mining platform that enables customers to perform large-scale social media monitoring, target advertisements more effectively, track influencers and sentiment within the media, automate content aggregation and recommendation, make more accurate stock trading decisions, enhance business and government intelligence systems, and create smarter applications and services.
In details, it provides a comprehensive set of natural language processing capabilities, including: named entity extraction, sentiment analysis, concept tagging, author extraction, relations extraction, web page cleaning, language detection, keyword extraction, quotations extraction, intent mining, and topic categorization.
The company currently serves semantic tagging to over 29,000 developers in over 30 countries. Customers in include brands such as PR Newswire, Radian6, MediaConnect, Jive Software, Cision, and Waggener Edstrom.