Dataminr’s $475m funding round ups its valuation to $4.1bn

AI monitoring platform Dataminr has closed a $475m funding round, bringing its valuation to $4.1bn. Its last funding round was in 2018 when it raised $392m and was valued at $1.6bn. The New York-headquartered company, which employs 650 people around the world and has a cohort based in Dublin, helps its clients with real-time information discovery and warnings ahead of high-impact events.

Eldridge, Valor Equity Partners, MSD Capital, Reinvent Capital, ArrowMark Partners, IVP, Eden Global and investment funds managed by Morgan Stanley Tactical Value were involved in the Series F round. It will use the new funding to grow its corporate business line, international sales and AI platform and to expand into European and Asia-Pacific markets. According to Tech Crunch, the company is gearing up for an IPO in 2023.

Dataminr said its corporate enterprise business line has doubled in revenue for three years in a row, with its platform becoming more popular across physical safety and security, reputation risk and crisis management, business intelligence and cyberthreat detection. Since it was founded in 2009, the company’s tech has been used by global corporations, first responders, NGOs and newsrooms.

It works by detecting digital patterns of emerging events from public data signals. Today, it performs trillions of computations across billions of public data from more than 100,000 unique public data sources every day. According to founder and CEO, Ted Bailey, more than half of the Fortune 50 use the platform. It delivered the first digital warning on Covid-19 in late 2019 and indicators on estimated cases of the virus as the pandemic continued.

Bailey said: “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 organisations.”

The funding will also allow the company to extend its reach across such data sources as social media platforms, blogs, web forums, audio and radio transmissions, the deep and dark web, cybersignals and public IoT sensors. It plans to further research into areas of AI, including 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,” Bailey added.

The post Dataminr’s $475m funding round ups its valuation to $4.1bn appeared first on Silicon Republic.

Related Articles

Stripe hits $95B valuation, is now Silicon Valley’s most precious private company

Online payment platform Stripe became Silicon Valley’s most valuable private company with its latest funding round. The company announced on Sunday that it has raised $600 million from Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA), taking its valuation to a gargantuan $95 billion.  As the Financial Times noted, the 11-year-old company has surpassed the valuation of Facebook and Uber before they went public. In relation to other private startups, Stripe leads trading platform Robinhood, which is currently valued at $11.7 billion, by a massive margin. Stripe raised a round… This story continues at The Next Web

We got an exclusive look at the pitch deck $3 billion valued healthtech startup Hinge Health used to raise $300 million

Summary List PlacementThe global digital health sector has unsurprisingly boomed amid the ravages of the coronavirus pandemic, with companies and consumers increasingly seeking out alternatives to in-person services.
Investors too are pouring more money into the space. One recent beneficiary is Hinge Health, which raised $300 million earlier in January to become the most highly valued private healthtech in the US, the company said. 
The Series D round was jointly led by private equity giants Coatue Management and Tiger Global and raised the valuation of startup to $3 billion, according to Hinge Health’s announcement.
The San Franc iso-based startup offers a digital clinic for musculoskeletal (MSK) pain and is available to more than 300 enterprise customers in the US. The company’s customer base tripled and revenue quadrupled in 2020, according to Hinge Health’s CEO Daniel Perez. 
“It was a very interesting year for us — in March every investor was concerned due to the pandemic, but we decided to stay the course,” Perez told Insider in an interview. “We knew there would be a counter revolution after a five or so week period where people weren’t answering the phone. We said, ‘If we can overcome this and execute we will win’  — and we were one of fastest growing companies in tech last year.”
The startup, founded in 2015, avoided layoffs or salary cuts and continued to hire last year. This new fundraising will help Hinge Health continue on its growth trajectory, with its current 550 headcount likely to double by the end of 2021, Perez said. The company was named as a healthtech company changing the industry recently.
Amid a crazy year for IPO listings in the US, and a likely continued surge into 2021, Hinge Health is primed for a debut on the public markets. 
“There was enormous investor interest when we opened the round — within 24 hours we had more than $400 million in commitments,” Perez added. “They [Coatue and Tiger Global] are the two best funds for a pre-IPO round, it’s very rare that they co-lead the same round.”
The two private equity firms’ involvement continues a trend of major hedge funds and private equity piling into late stage startups. 
Existing investors Atomico, Insight Partners, Quadrille, 11.2 Capital, Lead Edge Capital, Bessemer Venture Partners, and Heuristic Capital also participated in the funding round. Hinge Health has raised just over $426 million in total, according to Crunchbase.
Read more: Investors are pouring cash into mental health startups during a rough 2020. Here are 19 to watch, picked by top European VCs.
Despite the obvious incentives provided by public markets to buzzy startups, Perez claims that the company’s growth path is “laser focused” on growing its digital clinic for MSK.
“There is no pressure to IPO soon,” said Perez. “We’re hoping to be in a position to go public, or whatever, in 2022.”
To put Hinge Health’s rise into context, the company’s previous funding round (a $90 million fundraise in February 2020) valued the business at $428 million, one-sixth of the most recent valuation.
Perez said there’s still ample opportunity to grow further. “Healthcare is one-sixth of the US economy and around one-fifth of that is related to MSK,” he said. “That’s around 3% of [gross domestic product] so it’s a huge area of spend to disrupt.”
Check out Hinge Health’s pitch deck below: SEE ALSO: We asked 12 prominent European tech investors to pick out fintech startups they think will blow up in 2021. Here are the 20 they chose.

Responses

Your email address will not be published. Required fields are marked *

Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about chronicles from TreatMyBrand directly in your inbox