Analytics company Dataminr secures $85M to fund growth

Dataminr, a data analytics company that counts NATO and OpenAI among its customers, has raised $85 million in a combination of convertible financing and credit, Dataminr announced on Wednesday. It’s chump change for Dataminr, which closed a $475 million round at a $4.1 billion valuation in 2021. But the company has seen its fair share of downs as well as ups. In November 2023, Dataminr laid off 20% of its staff as it raced to fend off economic headwinds and “doubled down” on AI. “The new capital will allow Dataminr to accelerate its growth trajectory, [and] provide investors with a discount to the IPO price or subsequent round of financing,” CEO Ted Bailey told TechCrunch. “[We’ll] also use this new funding to expand [our] international go-to-market in Europe, the Middle East, and Asia, and to power additional products in new verticals.” Bailey added that the new tranche, which was led by security-focused VC NightDragon and HSBC, is “pre-IPO convertible financing” and doesn’t set a ... Read full article.