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.”