Cytora, a Cambridge- and London, UK-based provider of an event detection technology that enables organizations to manage their risk exposure using web data, raised its second funding round.
The terms of the funding were not disclosed.
The round was led by Cambridge Enterprise, the commercialization arm of the University of Cambridge, Parkwalk Advisors and a group of angel investors including Alan Morgan (Chairman of MMC Ventures).
The company intends to use the funds to grow in core markets of supply chain risk management and financial services, and to further develop the technology in the area of event detection.
Led by Richard Hartley, Co-founder, Cytora is an event detection company that enables organizations to manage their risk exposure using web data. The company collects raw data from millions of different web sources, detects and geolocates real world events in real time (e.g. port strikes, protests, weather events, fires etc.), and then distributes the data in multiple ways to facilitate the integration and use.
The product is used by risk advisories and consultancies to produce risk models, products and intelligence, airlines to spot ground to air missiles that have been reported, global corporates to monitor the world in real time for events that could improve their supply chain and investment banks and hedge funds to understand the impact of global risks on asset exposure.