Business Intelligence Firm HG Data Raises $2m

Big data firm HG Data has raised $2m in funding, which it plans to use to increase the coverage of its cloud-based business intelligence database and to expand into the Asia Pacific region.

Scientists at Santa Barbara, CA-based HG Data use semantic software to extract, evaluate and categorize business intelligence from hundreds of millions of web documents and off-line sources, to create a database of business relationships.

The firm's funding has been led by EPIC Ventures with support from angel investors including Tim Baskerville, the former CEO of JupiterResearch, and Kevin O'Connor, the founder of DoubleClick.

HG Data CEO and founder Craig Harris (pictured) comments: 'After more than two years of honing our algorithms with feedback from top-tier technology suppliers, we are ready to scale our data distribution to the long tail of business-to-business intelligence applications. With EPIC Ventures' capital infusion in tow, that journey is ready to be accelerated.'

Web site: www.hgdata.com .