Semantic Search Company Announces Series C Funding

NetBase recently announced that it secured Series C venture capital funding. The funds come from Altos Ventures and Thomvest Ventures, Inc., and will be used to fuel continued expansion.

Who's NetBase?

NetBase offers a series of products geared toward semantic search. Rather than referring to the semantic web, these products focus on the semantics of parsing the English language.

Each of the NetBase products is focused around a lens, which the company calls the packages that cause their search engine to key on particular concepts. For example, their ConsumerBase product lens looks specifically for what people like and dislike about your brand, what emotions your brand evokes and so on.

NetBase's ConsumerBase lens focuses the search engine on consumer and marketing issues.

What Growth Plan?

In 2009, the company entered new markets such as consumer insights and health, expanded its team by over 30% and grew its customer base by over 300%. For 2010, NetBase hopes to use the US$ 9 million cash infusion to continue this level of growth by investing further in its sales unit, marketing, business development, product management and its hosted cloud operations.

Expect to see NetBase develop new lenses for additional markets, in addition to their current collection: ConsumerBase, HealthBase and ScienceBase. Current customers include Reed Elsevier, Procter & Gamble and a number of other Fortune 1,000 companies across a number of different industries.

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Tags: altos ventures, consumerbase, document management, healthbase, netbase, sciencebase, search, semantic, thomvest ventures

NetBase recently announced that it secured Series C venture capital funding. The funds come from Altos Ventures and Thomvest Ventures, Inc., and will be used to fuel continued expansion.