The payment card network says the platform will provide retailers with another way to acquire customers.
HG Data uses the Internet to index billions of data points on how companies are deploying technology, then offers that data to clients to use in marketing and other campaigns. It says it will use the funding to expand internationally.
HG Data, which provides companies with data on how other companies deploy I.T. software and hardware, has received $2 million in venture capital in a funding round led by Rincon Venture Partners, HG Data said today.
The company, based in Santa Barbara, CA, says it will use the funds to “exponentially accelerate customer acquisition into international markets, expand the number of data providers and marketing firms it works with, and expand its staff of software engineers and data scientists.” Also participating in the funding round were Epic Ventures and several unnamed angel investors. HG Data has raised a total of $5.5 million in funding.
The company, launched in 2010 by CEO Craig Harris, says its clients include 25% of the software companies and 40% of the I.T. hardware companies listed in the Fortune 500. It declines to name those clients.
HG Data indexes daily through the Internet more than 1.2 billion unstructured data objects, including social media postings, job postings, and documents of company case studies and press releases. It then produces reports on the kind of technology deployed by individual companies, and on the number and names of companies that have deployed particular technology systems. It also assists clients in creating marketing campaigns based on that data.
Harris also founded database provider Noza Inc., which is now part of Blackbaud Inc., a provider of software for managing nonprofit organizations.
HG Data’s pricing starts at $5,000 for a one-time purchase of data on about 1,000 companies, which can be used for up to 12 months, says vice president of marketing Eric Jensen. If a client works with a marketing services firm associated with HG Data, the client will pay in addition to the $5,000 fee a minimum of $2 per contact person at each targeted company, he adds.
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