Big Data Firm Spire Technologies Gets $8m

Bangalore-based big data specialist Spire Technologies has raised $8m in a Series A round of funding from an unnamed investor. The new money will be used for further product development and company expansion to other Asian markets and to the US.

Founded by Saurabh Jain (pictured) in 2008, Spire offers big data analytics products to help organizations manage their employees; obtain and analyze customer feedback and intelligence; and detect fraudulent patterns in unstructured data.

Through the new funding, the firm is planning to push its contextual search engine to serve sectors such as market research, financial analysis, fraud intelligence and healthcare. New funds will also be used to hire more data scientists and engineers, and boost the company's sales and marketing efforts.

Web site: www.spire2grow.com .