New York-based data analytics startup Dataminr has secured $85 million in fresh funding as it gears up for international expansion and new AI-driven products. The new financing combines convertible debt and credit, a move Dataminr says will accelerate its growth as it inches toward a potential IPO.
While smaller than its previous $475 million round at a $4.1 billion valuation back in 2021. The latest funding signals Dataminr’s renewed focus on scaling globally and strengthening its AI capabilities. The new round was led by cybersecurity-focused venture firm NightDragon and HSBC, with NightDragon also creating a $100 million special-purpose vehicle (SPV) to pool additional investments from its partners.
CEO Ted Bailey described the raise as “pre-IPO convertible financing,” designed to give investors a discount on Dataminr’s IPO or future valuation rounds. “This capital allows us to expand our international presence across Europe, the Middle East, and Asia. While powering new products for additional verticals,” Bailey told TechCrunch.
Founded in 2009 by Bailey and co-founders Sam Hendel and Jeff Kinsey, Dataminr has carved out a niche as a real-time information powerhouse. Its AI platform scans massive amounts of global data—spanning text, images, videos, audio, and sensors—to deliver early alerts and event briefs during fast-breaking situations.
With over 800 clients, including two-thirds of the Fortune 50 and 1,500 newsrooms, Dataminr has become an essential tool for governments, corporations, and media outlets worldwide. Its customer list includes NATO, OpenAI, and major humanitarian organizations. The company is also under a $282 million, five-year contract with the U.S. Department of Defense.
Financially, Dataminr is approaching $200 million in annual recurring revenue, underscoring its staying power in the data intelligence market despite industry headwinds. However, the company faced challenges last year, laying off 20% of its workforce in November 2023 amid broader economic pressures. At the time, Dataminr vowed to double down on AI as the core of its future growth strategy.
Despite its success, Dataminr hasn’t escaped controversy. Reports have surfaced about the company’s technology being used for surveillance during high-profile protests, including Black Lives Matter demonstrations and pro-abortion rights rallies. Critics have also pointed to past inaccuracies in Dataminr’s alerts, raising concerns about reliability in sensitive situations.
Dataminr has pushed back, emphasizing that its technology does not allow users to track individuals or protestors’ locations. “Our AI powers security across federal agencies, OpenAI, humanitarian missions at the UN, and major global events like the Super Bowl and Olympics,” a company spokesperson said.
With this latest round, Dataminr’s total funding now exceeds $1.1 billion, according to Crunchbase. The new cash injection is expected to fuel product innovation and help Dataminr solidify its position as a global leader in AI-powered event detection and data analytics.
As the company navigates toward an IPO, the combination of deep institutional clients and growing demand for real-time AI insights could put Dataminr at the center of the next wave of data-driven decision-making worldwide.
