Dataminr, a prominent data analytics firm serving NATO and OpenAI, announced an $85 million funding round aimed at accelerating growth and international expansion. Despite a challenging period leading to a 20% workforce reduction, the company plans to enhance its AI capabilities and broaden its product offerings. The funding, categorized as pre-IPO convertible financing, will support efforts across Europe, the Middle East, and Asia. With over 800 customers and nearing $200 million in annual recurring revenue, Dataminr continues to thrive in the crisis response market.
"The new capital will allow Dataminr to accelerate its growth trajectory, provide investors with a discount to the IPO price or subsequent round of financing."
"We'll also use this new funding to expand our international go-to-market in Europe, the Middle East, and Asia, and to power additional products in new verticals."
"Dataminr is an unequivocal success in several respects... It's approaching $200 million in annual recurring revenue, and it has a five-year, $282 million contract with the U.S. Department of Defense."
"SVPs are alternative fundraising structures that allow multiple backers to pool their capital and make a single large investment."
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