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DataSift Grabs $6M

2011-07-11
DataSift, a company developing a real-time data platform and tools for third-party developers and corporations, has closed on $6 million in venture capital led by GRP Partners.
LOS ANGELES, From the Blog of Mark Suster, GRP Partners: Today I'm announcing that GRP Partners is doubling down on the Twitter ecosystem by investing in DataSift, a company who provides a real-time data platform and tools to third-party developers and corporations.

Our goal is to make the enormous volume of real-time information more manageable for the 99% of companies that lack the infrastructure to process these volumes in real time. Think of DataSift as turning the fire-hose into a cost-effective and manageable tap of running water. Or in utility speak, they are transmission and we are last-mile distribution.

And better yet, the company has a product that will turn the stream into a lake. What does that mean? The Twitter stream like most others is ephemeral. If you don't bottle it as it passes by you it's gone. DataSift has a product that builds a permanent database for you of just the information you want to capture.

Finally, DataSift has an enormous about of historical data already stored we we can help you go back and retrieve some older data for analytical purposes.

We're co-leading the $6 million investment with Roger Ehrenberg at IA Ventures in NY and one of the most respected early-stage investors in the country in "big data" companies. As a former hedge fund guy, Roger immediately saw the value in helping companies better sift through the masses of data; often to gain better insights into financial information.

And while DataSift is a provider of multiple real-time data feeds, I would like to be clear that Twitter is by far the most important and dominant of the real-time publicly available data that exists on the Internet today, which is why today's bet for me is on the Twitter ecosystem.

Some will cite my investment two years ago in social-media advertising company Ad.ly as an example of why I shouldn't be investing in the Twitter ecosystem any longer. Those people misunderstand Adly, this recent investment and Twitter's potential.

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