May has proved beneficial for funding -- first SocialText and now DataSift. Hot on the heels of Big Data Week, DataSift is celebrating big funding with an announcement that it has secured US$ 7.2 million in a follow-on Series A round from existing investors GRP Partners and IA Ventures.
Accelerated Growth Is a Nice Problem to Have
The funding will be used to accelerate DataSift’s growth in response to the increased interest and subsequent demand it received for its real-time and historics social data platform. In just six months since it launched, DataSift has added approximately 200 new customers, consisting of both entrepreneurs building their socially-intelligent applications and large enterprises that recognize that social is becoming essential for business.
Changes to Expect
Lest you think this new round of funding is the end of the story, think again. On its blog, DataSift revealed some of the new changes users can expect over the next few months, including a more dedicated focus on data analysis. Rob Bailey, CEO, writes:
One of the biggest reasons that people choose DataSift is not just that we can filter and deliver raw social data at massive-scale, but we can structure it into a “ready-to-analyze” format with sentiment, Klout Topics Natural Language Topic analysis, etc. for companies to consume. We’re unique in providing this in the market. What we’re working on next will take these capabilities further to give our customers not just a way to monitor social interactions, but to measure and metric them."
Their investors are confident that DataSift has the potential to transform an industry, and are doubling down on DataSift to help them grow faster and respond to market demand. With Big Data dominating the focus of many businesses, betting on DataSift to deliver may be a smart move.