Text Analytics Firm Luminoso Raises $6.5m

In the US, text analytics company Luminoso has secured $6.5m in a Series A round of funding, which it will use for further development of cloud-based technology analysing large volumes of unstructured online text.

Luminoso is based in Cambridge, MA and was founded out of MIT's Media Lab in 2010 by Dennis Clark, Jason Alonso, Rob Speer and Catherine Havasi. The firm's technology applies artificial intelligence to the process of text mining, in order to identify shifting sentiment, patterns, underlying themes and 'buried' intelligence. To date, the system works in English, Portuguese, Spanish, French, Italian, German, Chinese and Japanese.

The new funding has been led by Acadia Woods, with participation from Digital Garage, and adds to the $1.5m of seed funding raised in 2012. The proceeds will be used to fuel company growth, and expand the team.

Havasi said in a statement: 'We're encouraged by our investors' support and are dedicated to helping our customers continue to gain insights from their data, so that they can grow and improve their businesses.'

Web site: www.luminoso.com .