NEWS11 March 2010

Private equity firm pumps $35m into 1010data

Financials North America

US— Data analytics firm 1010data has secured a $35m minority investment from Norwest Venture Partners.

The money will be used to put “added momentum” behind 1010data’s sales and marketing plans for the year, said president and CEO Joel Kaplan.

“Norwest Venture Partners also brings a great deal of experience and marketing intelligence to the table, and we appreciate their confidence and support,” said Kaplan.

Jon Kossow, a partner at Norwest, will take a seat on the 1010data board following the investment. He said: “We believe that 1010data is transforming the data analytics market, and we are pleased to have the opportunity to make this investment in the company.”