Deals

DataSift nabs $15M from SVP, Northgate, & Daher to better analyze & process social data

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Image Credit: via sargsyan/deviantArt

social-media

Social data startup DataSift has raised $15 million in its second round of funding, cash that will help it continue to swiftly grow and brew better social data technology.

DataSift made our recent list of 10 startups leading the way in ‘big data’ because its tech can analyze data across the social web, which helps companies get a handle on public opinion and better shape marketing messages. The company said it has doubled revenue every quarter since its 2011 launch and has accumulated “hundreds of corporate customers.”

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“We have the world’s best infrastructure in real-time, as well as historical processing of social data, and through our Series B funding, we now have the ability to take that infrastructure to the next level,” DataSift founder and CTO Nick Halstead said in a statement. “The promise of the DataSift platform lies in enabling our customers to bring together their private and public data and applying our powerful processing to that unstructured data. The ultimate goal of big data is drawing actionable insights from a combination of public and private data.”

While Halstead seems enthusiastic about big data, we found it refreshing that DataSift CEO Rob Bailey recently told us he didn’t care for the term.

“I call bullshit on the term ‘big data.’ First of all, the big data problem has been around since before there were computers,” Bailey told VentureBeat a month ago. “Too many companies focus on managing big volumes of big data without focusing on end solutions and providing answers for customers.”

The new funding was led by Scale Venture Partners, with participation from Northgate Capital and Daher Capital. This brings DataSift’s total haul to about $30 million. Rory O’Driscoll, managing director with Scale Venture Partners will join DataSift’s board.

San Francisco-based DataSift was founded in 2010 and has more than 60 employees.

Social media image via sargsyan/DeviantArt