Lands $9M In Venture Capital Funding
Summary
The funds will be used to execute a growth plan across the organization including building out sales, marketing, business development and product management functions, as well as further expanding its hosted cloud operations. “Over the past five years, we have seen NetBase grow and now they have the opportunity to change the way insights are discovered and delivered to major brands around the world,” said Don Butler President of Thomvest Ventures Inc. “We are proud of our ongoing contribution to their success and look forward to watching them take advantage of a very promising market opportunity.” NetBase is already being used by five of the top 10 consumer packaged goods companies including Procter & Gamble and two of the top three science, technology and medical publishers including Elsevier, the world’s largest publisher of scientific, technical and medical content and services. “We are very proud of what we have accomplished in building disruptive technology that understands public and private content at scale to provide actionable insights,” said Jonathan Spier, CEO, NetBase. To achieve this, the company has expanded its cloud model operation with partner SoftLayer, provider of global, on-demand data center and hosting services from facilities across the U.S., and is prepared to scale in correlation with business needs. “Today, NetBase’s next-generation semantic search offers significant competitive advantage to the world’s most demanding organizations,” said Anthony Lee, general partner, Altos Ventures.
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