NEWS24 October 2012

InfoArmy raises $17.3m in private investment for iPad platform

Financials North America

US — InfoArmy, a crowdsourced iPad platform for comprehensive reports on companies, has raised $17.3m in funding from Norwest Venture Partners and Trinity Ventures.

The company, created by former Jigsaw founder Jim Fowler, will add Jeff Crowe of Norwest and Patricia Nakache of Trinity Ventures to InfoArmy’s board as part of the investment deal.

InfoArmy is an iPad tool for anyone seeking information about companies. The information ranges from a company’s competitors (competitive matrix, competitor funding, competitor revenue), people (founders, investors, board), products and services, customers, financials and social media stats (Twitter followers, LinkedIn followers and Facebook likes).

The profiles are created by a team of 3,800 researchers around the world, who get paid for each report sale. Reports are sold at $99 each with plans for a fixed subscription price in the near future.

The latest funding brings the total round of funding for the firm to $19.3m – $2m was already invested by Fowler and his family from the proceeds of the sale of Jigsaw to Salesforce for $175m in 2010.