Connotate raises $11m Series B funding

Connotate will use the newly raised capital to broaden market reach and expand its portfolio, especially around Connotate Cloud, it tool for monitoring and extracting web data.

Tripp Peake, general partner of Long River Ventures, said: “We are always looking for companies that capitalise on high growth market opportunities. Connotate fits that profile perfectly. Its web data extraction platform is at the forefront of big data. It allows businesses to efficiently extract web data to create high-value intelligence, unique insights, and differentiated information products and services.”

Other sources of funding came from existing shareholders .406 Ventures, Castile Ventures, Fernwood Funding LLC, Prism Ventures and other angels.

Rich Kennelly, CEO of Connotate, said: “We’re still in the early stages of web data market growth.  As enterprises and big data companies significantly increase their use of web data, this investment ensures Connotate can grow with that opportunity.”