Big data company, Digital Contact, secures $3.8million funding | Financial Industry & Algorithmic Trading News | Automated Trader
Summary
Big data specialist, Digital Contact, has secured $3.8million (£2.4m) in funding, allowing the company to invest in cutting-edge technology to launch its new product. Using the funding to turbo-charge its technology, Digital Contact has been able to increase the efficiency of its big data analytics engine - enabling the company to now process more than 250,000 messages per second - up from 55,000 - and more than 22 billion per day. Digital Contact CEO Gareth Mann, said: "This funding is a huge boost, and will go a long way to cementing our position as a leader in big data products and services. The technology and sentiment tracking can search for any topics or conversations taking place online about a company or particular subject, and break that data down, defining whether what is being said is positive, negative or indifferent. The funding has led to Digital Contact establishing its own proprietary Hadoop cluster - one of the key tools utilised by big data companies.