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Infocomm Investments, Atomico Ventures, SV Angels, Founders Fund and others invest $10 million in Quid
26 July 11
Quantitative analysis startup Quid announced today funding of $10 million in its Series C round. Investors in the round include, Niklas Zennstrom’s Atomico Ventures, Ron Conway’s SV Angels, Peter Thiel’s Founders Fund, Endeavour Vision, Korean investor Charles Lho and Infocomm Investments.
Quid was founded in 2009 to locate, collect, organize, model and visualize vast amounts of open information from around the world. It counts Microsoft as one of its clients.
Quid’s CTO, Sean Gourley said in the press release, “We live in an increasingly complex world, where billion dollar decisions need to be made against a background of uncertainty. To make superior decisions we have to make better use of the ambient data surrounding us. At Quid we have spent the last 18 months developing custom algorithms to understand this data. By making use of natural language processing, machine learning and network theory we have built a platform which will allow better decisions to be made. With this round of funding we will be able to grow the engineering team, bring these technologies to market and give people new ways to interact and play with the world’s information.”
With the Series C funding, Quid is planning to build advanced interfaces and visualizations, expand its world-class technical talent pool, and capture additional data streams.
TechCrunch article on Quid’s new investment round: http://techcrunch.com/2011/07/25/quid-10-million/
Venturebeat:http://venturebeat.com/2011/07/25/quid-10-million-funding-levchin/