Dataminr’s core business at the moment is to analyse social media streams on behalf of financial services firms to alert them to market-moving information before it appears in the news.

It has a relationship with Twitter which gives it real-time access to Tweets. Dataminr CEO Ted Bailey said: “Our proprietary real-time multivariable algorithms dynamically cross-correlate public Tweets with a wide variety of other data-sets to identify the most relevant and actionable information when it first emerges.”

Venrock and Institutional Venture Partners led this most recent round of funding. In a previous round, Dataminr raised $13m from GSV Capital Corp, Deep Fork Capital and Wharton Equity Partners.