Dataminr, a New York City startup, introduced a Twitter-powered sensor network in April that allowed its financial and government clients to use Dataminr as an early warning system for news and trends. Now, the company has raised $13 million in Series B financing to build out its service and go after new clients.
The funding comes from existing angels and private investors and includes new investors GSV Capital, Deep Fork Capital, Viceroy Capital and Wharton Equity Partners. Dataminr previously raised $3.5 million last fall.
Dataminr has signed a partnership with Twitter to access its firehose and uses the data to surface breaking news, critical information or important trends. It analyzes more than 400 million daily tweets and looks for abnormal and actionable signals that can be useful for its customers. This can be especially helpful for financial clients, who can get real-time alerts and analytics to help guide their decisions.
The company was founded in 2009 and has primarily sold to big banks and hedge funds with government agencies joining more recently as clients. It now offers a product for federal, state and local government agencies to get early warnings on events. The service allows agencies to geo-target areas and blend in their own data sets with Dataminr’s information.
Dataminr has been praised by Twitter as an example of the type of partners it wants. This is the kind of area in which Twitter doesn’t seem to be interested in competing yet. With so much data flowing through Twitter in real time, it’s not surprising that big corporate and government clients want to use it more for active listening and trend spotting.