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January 30, 2014 08:30 pm GMT
NYC startup and TechCrunch Battlefield winner Enigma has raised $4.5 million in Series A funding, the company has revealed today. The new round was led by Comcast Ventures, and includes participation from American Express Ventures, Crosslink Capital and the New York Times Company. Some of the new funders are clearly strategic partners, who are interested in seeing where Enigma’s unique approach to mining public data can take them. Enigma launched at Disrupt in NYC last year, and since then it has offered up access to its platform for accessing public data via API and end-user dashboard on the web. Already, the company has partnered with big name companies including the Harvard Business School, S&P Capital IQ and more. The startup gathers public data from sources including FCC documents, government databases, and many, many more using data crawlers set loose on the web. The real value of the service lies in its ability to make sense of all that data, however, and index it in a way that makes it easy to retrieve by even people who have no special training in data analytics. “This year is really going to be about developing the public data graph, which is really our marquee huge next iteration,” explained co-founder Hicham Oudghiriin an interview. “What we’re trying to do is not only collect all this information but interpret it. We think that we’re pretty far in terms of clearing those obstacles ahead of us, technologically, and we’re just super excited to have partners who believe in that vision and that goal.” This group of investors has strategic goals for Enigma’s platform: There’s a financial service firm and two media firms in the investor pool, so what the company aims to do during the next year splits along those lines, too. There’s a concerted effort working with financial organizations to increase access to credit for small businesses, Enigma’s founders tell me, leveraging publicly available data to replicate some of the expensive, closed proprietary systems used by larger organizations. For news orgs, the data store offers a chance to break and augment stories, and we’ve already seen some of the results of that from Enigma’s partners like the NYT. While they have clients, the focus isn’t on revenue yet, the company tells me. “The focus from our investors is less on profitably and more on size and quality of the deals that are coming through, and
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/GecrIoDUQIE/
Enigma Raises $4.5M To Help Plumb The Depths And Derive Insights From Public Data
NYC startup and TechCrunch Battlefield winner Enigma has raised $4.5 million in Series A funding, the company has revealed today. The new round was led by Comcast Ventures, and includes participation from American Express Ventures, Crosslink Capital and the New York Times Company. Some of the new funders are clearly strategic partners, who are interested in seeing where Enigma’s unique approach to mining public data can take them. Enigma launched at Disrupt in NYC last year, and since then it has offered up access to its platform for accessing public data via API and end-user dashboard on the web. Already, the company has partnered with big name companies including the Harvard Business School, S&P Capital IQ and more. The startup gathers public data from sources including FCC documents, government databases, and many, many more using data crawlers set loose on the web. The real value of the service lies in its ability to make sense of all that data, however, and index it in a way that makes it easy to retrieve by even people who have no special training in data analytics. “This year is really going to be about developing the public data graph, which is really our marquee huge next iteration,” explained co-founder Hicham Oudghiriin an interview. “What we’re trying to do is not only collect all this information but interpret it. We think that we’re pretty far in terms of clearing those obstacles ahead of us, technologically, and we’re just super excited to have partners who believe in that vision and that goal.” This group of investors has strategic goals for Enigma’s platform: There’s a financial service firm and two media firms in the investor pool, so what the company aims to do during the next year splits along those lines, too. There’s a concerted effort working with financial organizations to increase access to credit for small businesses, Enigma’s founders tell me, leveraging publicly available data to replicate some of the expensive, closed proprietary systems used by larger organizations. For news orgs, the data store offers a chance to break and augment stories, and we’ve already seen some of the results of that from Enigma’s partners like the NYT. While they have clients, the focus isn’t on revenue yet, the company tells me. “The focus from our investors is less on profitably and more on size and quality of the deals that are coming through, andOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/GecrIoDUQIE/
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