HG Data Raises $2m Expansion Funds

In the US, big data firm HG Data, which offers targeting of businesses according to the technology they use, has raised $2m in additional Series A funding. The money will be used for international expansion and the recruitment of new engineers and data scientists.

Santa Barbara, CA-based HG Data compiles its data on use of b2b technology products using semantic software which extracts and categorizes intelligence from hundreds of millions of web documents, as well as off-line sources.

New funding has been led by venture capital fund Rincon Venture Partners, with participation from Epic Ventures and several angel investors. This brings HG Data's total Series A funding to $5.5m, including $2m raised last year.

Founder and CEO Craig Harris (pictured) says the funds will accelerate the firm's creation and delivery of market intelligence for its global technology clients and distribution partners. He comments: 'We are creating an entirely new category of global competitive intelligence through our machine learning algorithms, which can derive competitive insights from the vast and largely unmined unstructured information that is contained across the open and archived web.'

Web site: www.hgdata.com .