HG Data Raises Further Expansion Funds

US-based big data firm HG Data has raised $12m in a Series B round of funding, which it will use to develop new products, add clients, and expand its science and engineering expertise.

The Santa Barbara, CA-based firm 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. Last year, it expanded into the healthcare sector.

The latest funding has been led by Updata Partners, with participation from early investors Rincon Venture Partners and Epic Ventures, and brings the total to date to $23m. CEO Craig Harris (pictured) comments: 'HG Data is thrilled to have Updata Partners lead our B funding round. Their operational expertise is going to be extremely useful in guiding us in making the critical investments to usher in the next phase of planned expansion'.

Web site: www.hgdata.com .