Connotate, a service that aggregates and analyzes web content for businesses, today announced that it has secured a first round of funding for $5.25 million from .406 Ventures. Funding will be used to continue development as well as for marketing and sales.
The company scours over 3 million web pages per day and helps businesses create structured actionable data. Utilizing its patented Intelligent Agents, Connotate collects various types of data including product pricing, inventory, rankings or employment. Web data is pulled from a number of channels, including XML, RSS, email, text messaging, file systems and direct feeds to SQL databases and Excel.
Connotate has several competitors also keeping an eye on customer data, including Datawatch Corporation, Information Builders and Oracle.
The New Brunswick, New Jersey-based company was founded in 2000 and is based on technology developed at Rutgers University.