DataSift, a San Francisco, New York City and Reading, U.K.-based provider of a social data platform, secured $42m in Series C financing.
The round was led by Insight Venture Partners, with participation from existing investors Scale Venture Partners, Upfront Ventures, IA Ventures, Northgate Capital, Daher Capital and Cendana Capital. In conjunction with the funding, Insight Venture Partners co-founder and managing director Jeff Horing will join DataSift’s board of directors.
The company, which has now raised more than $70m, intends to use the funds to increase investment in its platform, continue expanding its global reach, invest in additional sales and marketing resources, further develop the social data ecosystem and expand into new data types, including internal enterprise data.
Founded by Nick Halstead, CTO, and led by Rob Bailey, CEO, DataSift provides over 1,000 corporate customers across 40 countries with a social data platform to aggregate filter and extract insights from public social conversations on Twitter, social networks and other sources.
It gives access to both real-time and historical social data to uncover insights and trends that relate to brands, businesses, financial markets, news and public opinion.
Customers include Bloomberg, Dow Jones, CBS Interactive and Dell and social technology application innovators Marketwired, Dachis Group, Conversocial, HootSuite and Simply Measured.
13/11/2012: DataSift Receives $15M in Series B Funding
02/05/2012: DataSift Secures $7.2M in Follow-on Series A Funding
11/07/2011: DataSift Raises $6M in Funding