Further Investment for Dataminr

In New York, real-time public data analytics firm Dataminr has secured $100m in convertible financing, just a month after a separate $85m funding win.

Dataminr began as a Twitter analytics specialist, and has since broadened its offer to provide predictive insights on high-impact global events and news to clients in sectors including government, financial services and media. Its AI platform is powered by more than 50 proprietary LLMs and multi-modal foundation models. Huge earlier rounds of funding - $130m in 2015 and $475m in 2021 - helped it to a valuation by the latter date of $4.1bn, but after around 150 job cuts in 2023, the latest backing seems to put it back on track and perhaps vindicate its decision since then to refocus its efforts on AI development.

The $100m comes from funds managed by affiliates of Fortress Investment Group, while the March investment came from NightDragon and HSBC through a combination of convertible and credit. The firm, which says it is approaching $200m in Annual Recurring Revenue, strong growth across the enterprise, government and defense markets - intends to use the funds to fuel international growth, continue its development of GenAI products and expand into new verticals.

Founder and CEO Ted Bailey (pictured) comments: 'We are excited to welcome Fortress as a new investor, and excited by the experience the firm brings as a lifecycle investor. The era of Gen AI and Agentic AI holds immense new opportunities for Dataminr in turbocharging the application of real-time information capabilities we offer, especially for corporations and governments, and we look forward to using this capital and leveraging Fortress's experience to accelerate our ability to sell across the Global 2000 and beyond.'

The firm is online at www.dataminr.com .