Written by Mohamed P.Hassan
Digimind, a leading SaaS social media monitoring and competitive intelligence company, is gaining momentum with its fund performance detecting analytics platform. The relatively new product, available via WhoGotFunded.com, empowers subscribers with the ability to identify companies, which are being backed by investments. Start-up companies need publicity and WhoGotFunded.com features successful ones and highlights them for other potential investors.
In June of 2012, WhoGotFunded.com came out of the beta stage and gained over 5,000 subscribers over the course of a few months. The website tracks all venture capital developments in every industry and region in the world. Lots of information about funding activities can be found, as soon as someone visits the website. However to get more frequent and structured updates, users have to subscribe to the website’s suite of services. The free version of the subscription allows users to see up to 10 companies every month.
These days a whole range of start-ups are being established, with a bulk of them spawning from the IT sector and predicting their success rate is a tall order task. Having the knowledge that a certain start-up has “got funded,” indicates that someone has trusted them enough to invest in them and this sends the right signals to other investors monitoring these activities. Other start-ups benefit from this as they would get a better insight into the right ‘recipe’ that appeals to an investors appetite. From this perspective, WhoGotFunded.com can prove to be useful to other start-ups and of course savvy investors.
The WhoGotFunded project started to evolve after it won a Eurostar’s grant for being a European R&D initiative. According to its founders, the websites aims to be “the world’s largest database of venture capital deals and funding events.” In the press release regarding its launch, CEO of WhoGotFunded, Paul Vivant was quoted saying, “We are building a growing community of people interested in venture capital and innovation and we’re extremely proud of what’s been achieved in such a short period of time.”
The intelligent platform also rank investors and companies, to help entrepreneurs and competitors learn more about the competition.
WhoGotFunded is a combination of all the tools Digimind has been creating. The tool is essentially a crawler. It uses press releases and other financial documents to function. Initially it was a research program on the “Ontologies and Semantic Web” in the view of bit data. In a recent interview regarding WhoGotFunded, Chris Hote, CEO of Digimind USA, told Decision Insider, “The question was how to process a huge amount of data and produce something useful.” He added, “Our customers are not only investors and banks, but also companies selling products and services.”
Hote mentioned that since the year 1999, they have established various products all to do with internet intelligence. He adds, “Google was just starting out. In 1999, to look for a company you had to search for it. We provide a tool that can detect updates in any website and let our clients be notified.”
As Chris Hote describes Digimind operations, “The goal is to help our clients.” In addition to WhoGotFunded, the intelligence company has also created more recently a tool to analyse social media. The tool launched this year is called “Digimind Social.” Hote explains, “If you want to have an edge over your competitors, you better know what they do; to better position yourself in terms of patent filing, launching products, etc.” Currently, Digimind Social includes in its analysis spectrum Facebook, Twitter, LinkedIn and various blogs/news sites. The tool works by accessing these windows directly or through APIs, when provided. Hote clarified; when they mention “Intelligence”, it refers to the process of understanding and analysis.
Digimind now based in the United States, originally started out in 1998 in France, and later expanded globally. The company has 15 years of experience in delivering data insights and analysis along relevant R&D. Digimind embraces the start-up culture and has its headquarters in Grenoble, France, with other offices in Paris and Boston. Later they established offices in Singapore and London. The company recently opened for business in Rabat, Morocco and Munich, Germany as well.
–Edited by R.M.