Real-Time Data Aggregator Dataminr Has a High Valuation, but It Isn’t Looking To Go Public Yet

Dataminr, a company that takes in and analyzes information from a collection of 100,000 public data sources, has made the Forbes Cloud 100 list five years running. It has completed massive rounds of funding, most recently a Series F round in Mar. 2021.

Although Dataminr has fielded speculation about when and if the company will go public, the company has not made any firm declarations regarding an IPO. The earliest the company would likely go public is 2023, according to TechCrunch.

Dataminr raised funds in 2018, bringing its valuation to $1.6 billion. The 2018 round, which added $392 million to its total funding, involved investors such as Morgan Stanley’s Tactical Value Fund, the Pritzker Family Business Interests, and Goldman Sachs.

Dataminr’s most recent fundraising round concluded in Mar. 2021. The Series F round brought in $475 million in new funding and gave the company a $4.1 billion valuation. Investors in that round included Eldridge, Michael Dell’s MSD Capital, Marc Pincus and Reid Hoffman’s Reinvent Capital, ArrowMark Partners, IVP, and Eden Global.

At that time, founder and CEO Ted Bailey said that the Series F funds would be used for continued growth in its corporate customer base, international sales, and AI platform. A Dataminr IPO is likely to come in 2023, said Bailey in an interview with CNBC’s Squawk Alley.

Ted Bailey founded Dataminr in 2009 and continues to serve as its CEO. Part of what drove him to start the company was the idea that real-time data could have saved lives on 9/11. He noted that on Dec. 30, 2019, Dataminr provided the first digital warning about COVID-19 to its clients.

Customers of Dataminr include thousands of public sector organizations, multinational corporations, news organizations, and over half of the companies on the Fortune 50 list. “Today, 24 hours a day, and 365 days a year, Dataminr is detecting the world’s events faster than has ever been possible for public and private sector organizations across the world,” noted Bailey in a blog post after the Series F fundraising.

In Nov. 2020, Deloitte Technology’s Fast 500 included Dataminr at No. 176 on its list of the 500 fastest-growing technology, media, telecommunications, life science, and energy tech companies in North America. And in Jan. 2021, Dataminr was named by Built In as one of the best midsize companies to work for in New York City.

Dataminr acquired WatchKeeper, a real-time data geovisualization platform, in Jul. 2021, and in Aug. 2021, Dataminr was officially named to the Forbes 2021 Cloud 100 list, which requires a review process of hundreds of cloud company applicants. 34 public cloud company CEOs judge the applicants based on market leadership, estimated valuation, operating metrics, and people and culture.

Of the company's services, Dataminr CEO Bailey said, “Whether it’s for physical safety, reputation risk or crisis management, or business intelligence or cybersecurity, we’re providing critical insights on a daily basis,” reports TechCrunch. The company is expected to go public sometime in 2023, according to the CEO’s comments in 2021.