HG Data Raises $12M in Series B Funding to Accelerate Growth
Updata invests in HG Data and the future of big data insights.
SANTA BARBARA, CA, March 24, 2016 – HG Data, the global leader for competitive intelligence on installed technologies, today announces it has raised $12 million in Series B funding, bringing total funding across all rounds to $23 million. Updata Partners, a leading technology growth equity firm, joins early investors, Rincon Venture Partners and Epic Ventures, to ensure HG Data is appropriately capitalized to aggressively pursue the opportunities before it.
The series B funding follows a year of significant company growth in product, dataset and revenue as well as HG Data emerging as the de facto standard in the technology sector for aggregating installed technologies. Additionally, HG Data datasets expanded in 2015 outside of the technology sector, using its algorithms, natural language processing and machine learning to solve business challenges in the healthcare industry via a strategic partnership with HIMSS Analytics. HG Data’s new funds will help to build on this momentum, allowing HG Data to continue to develop bleeding-edge products, increase client acquisition, expand its science and engineering expertise and continue to deliver ‘the firmographics of tomorrow’ today.
“HG Data is overjoyed to have Updata Partners lead our B funding round,” said Craig Harris, CEO of HG Data. “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.”
“HG Data’s technology allows it to create installed product and service datasets that are unparalleled in terms of their scale and accuracy. With that data in hand, clients can optimize their sales and marketing efforts, better understand their segment’s competitive dynamics and make better informed product decisions,” said Jon Seeber, General Partner of Updata Partners. “We’re thrilled with the opportunity to partner with Craig and the rest of the HG Data team to ensure they continue to be leaders in the data industry. As HG Data enters its next stage of growth, we look forward to working closely with the team as they expand their solutions within the technology sector and beyond to new verticals.”
About HG Data
HG Data is the global leader in competitive intelligence for installed technologies. The world’s largest technology companies, the fastest-growing start-ups, and some of the most innovative OEM partners achieve an unfair advantage by using HG Data in building market analysis, competitive displacement, predictive modeling, marketing campaigns, and client retention initiatives. Every day, HG Data indexes billions of unstructured documents across the open Internet, the archived Web and offline resources to produce a detailed, accurate census of B2B technology installations in use at companies globally. Indexed resources include content such as social media, case studies, press releases, blog postings, government documents, content libraries, technical support forums, website source code, job postings, and multiple other sources. Founded in 2010, the company is based in Santa Barbara, CA. Learn more at www.hgdata.com.
About Updata Partners
Updata Partners is a leading technology-focused growth equity firm with more than $650 million of capital under management. Updata invests in high-growth software, Internet, and technology-enabled service businesses with innovative intellectual property and market-leading solutions. Led by an investment team averaging more than 20 years of experience in the technology industry, Updata seeks investments where the combination of the firm’s financial backing and the operating expertise of its partners will accelerate growth. For more information about Updata Partners, please visitwww.updata.com.
Press release was originally published on PRWeb.