Accelovation raises $4M for online software for IT market research

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Accelovation, a Mountain View, Calif. maker of online software for researching emerging technology markets, has raised $4 million in a second round of funding.

This is the worst name for a company we’ve heard in a while. It is meant to be a joining of the words “acceleration” and “innovation.

Thomvest Ventures led the round with a $2 million investment, VentureWire (sub required) first reported this morning. Other investors included Altos Ventures and individuals.

Thomvest and Altos invested in a $3 million first round more than two years ago.

The company says it is like a search engine but produces analytics and summaries of the results rather than just a list of documents.

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