NEWS13 April 2012

$7m funding for web data firm Connotate

Financials North America

US— Web data monitoring and collection firm Connotate has raised $7m in a series B funding led by Castile Ventures with participation from new investor Prism Venture Works and existing backer .406 Ventures.

The firm will use the cash to speed up its growth strategy, which includes international expansion and the establishment of a partner program.

Castile Ventures’ founder and managing partner Nina Saberi said: “Connotate’s unique and differentiated technology has positioned it to capitalise on the explosion of Big Data and enterprises’ growing appreciation of the value that highly scalable data monitoring and collection can bring.”

Liam Donohue, general partner at .406 Ventures, added: “Since our initial investment in Connotate, I have been continuously impressed with the company’s execution and traction in the market. Connotate gives companies the ability and accuracy to automate the capture of real-time web data.”