South East Seed Fund backed DataSift announce $6M Series A Funding

Finance South East is delighted to announce that South East Seed Fund portfolio company, Mediasift have completed a $6 million round of VC funding co-led by IA Ventures and GRP Partners. As part of the round the South East Seed Fund increased its stake in the business.

The company has been supported since February 2009 by the South East Seed Fund and angels from the FSE Investor Network to develop the Tweetmeme and Datasift platforms.

DataSift is the first real-time content curation platform, allowing companies to filter and analyse the full Twitter firehose. DataSift also incorporates several other real-time feeds and adds additional metadata such as location, user information, authority and even sentiment analysis. Companies in data-intensive industries such as news, publishing, marketing, advertising and financial services are already benefiting from DataSift’s pay as you consume platform. The result is real-time business intelligence.

Sally Goodsell, CEO of the FSE Group commented: “We are pleased to see the progress MediaSift has made in the three years since our original involvement. Mediasift is an excellent example of the type of innovative high growth business around the South East that need support in the earliest stages to reach their global potential.

The FSE Group is an independent, FSA authorised fund management organisation which provides growth finance to ambitious young businesses. The organisation has a strong track record of achieving significant results through relatively small investments. An economic impact study in 2009 found the companies that FSE invested in grew almost five times faster than the national average.

The FSE Group has a unique business model. Whilst its funds are managed on a commercial basis to meet investor requirements FSE is a not-for-profit entity that does not distribute surpluses. With offices in Camberley and Ipswich, the organisation works across the South East of England and surrounding areas. The team has won many awards for its innovative approach to funding SMEs.

The South East Seed Fund is actively open for business and continues to seek innovative early stage companies that demonstrate the potential for growth. This £7.1m equity fund invests between £100,000 and £250,000 on a ‘matched-funding’ basis businesses (including but not limited to university spin-outs) based in the South East.

For more information about the South East Seed Fund, contact Julie Silvester, Finance South East on 01276 608521.