Highlights:
- Dataminr’s latest model, ReGenAI, generates reports on major events and updates them as new information emerges.
- Dataminr’s analytics platform tracks real-time events, analyzing billions of public data points daily to identify key developments for various applications.
A startup specializing in rapid risk detection, including cyber threats, Dataminr Inc., has raised USD 85 million in debt financing to advance its technology.
The company recently disclosed the agreement, noting that a portion of the debt financing from NightDragon and HSBC was structured as a convertible loan—allowing lenders the option to convert it into equity. Additionally, NightDragon intends to establish an investment vehicle, enabling Dataminr to secure an extra USD 100 million in convertible debt from external investors.
The software company previously raised USD 475 million in equity funding during its Series F round in 2021, which valued the firm at USD 4.1 billion.
Dataminr offers an analytics platform that enables companies to monitor real-time events. The company states that its software analyzes billions of publicly available data points daily to identify significant developments, supporting a variety of applications.
A delivery company might utilize Dataminr to identify lane closures that could necessitate route adjustments for its drivers. Similarly, cybersecurity teams depend on the software to detect emerging hacking campaigns that could pose threats to their organizations. Additionally, Dataminr reports that its platform is used by over 100 U.S. government agencies.
Dave DeWalt, Founder and Chief Executive Officer of NightDragon said, “When seconds matter and truth is obscure, Dataminr is helping the world’s leading organizations and governments make smarter, more informed decisions in real-time by pushing the boundaries of what’s possible with AI.”
Dataminr’s platform operates using over 50 proprietary artificial intelligence models. Some are built to process multimodal data, while others are large language models specialized in text analysis.
One of Dataminr’s latest models, ReGenAI, can generate reports on significant events and continuously update them as new details emerge. Following last year’s CrowdStrike Holdings Inc. outage, ReGenAI swiftly created an initial incident summary based on early customer complaints and progressively incorporated additional information about the cause and impact of the disruption.
The newly announced financing round will allow Dataminr to expand its feature set, with a strong focus on enhancing its AI capabilities.
Next month, Dataminr will launch an AI tool called Context Agents, designed to enhance its platform’s ability to deliver more relevant insights on breaking events. In the future, the company also plans to introduce AI features that can predict potential developments.
Alongside its new engineering initiatives, the company will expand its international go-to-market teams to drive sales growth. As part of the financing announcement, Dataminr revealed that its annualized recurring revenue is nearing USD 200 million.