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Updated: Radar Networks Raises $15-$20 Million For Semantic Web Technology

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Radar Networks, the parent company behind the semantic web application Twine, has raised a second round of funding from Velocity Interactive Group, according to PE Hub. (The announcement with details is planned for Monday.) The round was likely in the $15-$20 million range, reports VentureBeat (see update below), which also notes that the company raised $5 million in 2006 from Vulcan Capital and Leapfrog Ventures. The Twine service allows users to centrally collect various items from across the web, which the service can then tag and organize based on its understanding of the content. The service is still in beta, though its planning for a wider launch, which will include partnerships with established media companies. The company is run by EarthWeb co-founder Nova Spivack.

Update: Turns out the initial reports were too high. The raise was for $13 million, according to the official release.