Minetta Brook said it raised $2 million in seed funding in a round led by the TiE Angel Group Seattle and Naya Ventures. Keiretsu Forum Northwest led a previous convertible note round which closed in February. The company has come out of stealth mode.
Big Data Intelligence startup Minetta Brook raises $2 million in seed financing led by Naya Ventures and TiE Angel Group Seattle
SEATTLE – July 23, 2013 – Minetta Brook Inc. (http://minettabrook.com), a Seattle-based Big Data Intelligence platform startup, came out of stealth mode and announced the closure of its seed round. The company is emerging from two years of development as it prepares to transition from beta to revenue mode.
Minetta Brook’s core technology is its big data intelligence platform that enables fast discovery of relevant information from streaming structured and unstructured content.
Minetta Brook was conceived in early 2011 when entrepreneur and former Microsoft and Silicon Valley executive Deepak Bharadwaj teamed up with Fintech veteran Prabhu Venkatesh. Messaging software that Venkatesh’s company built is widely used within NASDAQ and he was part of the original team that developed Salomon Brothers’ trading systems; these later became the model for every other modern trading system. The company has since attracted strong additions including Viplav Nigam who built and ran NASDAQ’s trading system, ran the NYSE algorithmic trading floor and was most recently CIO at RTT where he built software to deliver ultra-low latency news and sentiment extraction for trading.
Minetta Brook has raised $2 million in seed funding. The latest round was led by the TiE Angel Group Seattle (TAGS) and Naya Ventures LP, an early stage venture fund. Keiretsu Forum Northwest led the previous convertible note round which closed in February.
“This investment allows us to bring to customers our breakthrough intelligence engine with applications across multiple sectors. Our first application targets the financial sector and will revolutionize how news, market and reference data are synthesized to provide hyper-relevant realtime information to traders and analysts,” said Deepak Bharadwaj, CEO and co-founder of Minetta Brook.
“Naya Ventures is focused on investing in early stage companies that can use our operational expertise and ecosystem knowledge. Minetta Brook’s phenomenal team developing a Big Data Intelligence Platform was the perfect fit for us. We are very excited to be joining the team” said Gowri Shankar, Venture Partner at Naya Ventures, who will join the board as an observer.
“We are very excited to work with Minetta Brook’s experienced team of experts who are bringing a new dimension to the structured and unstructured data world,” said Haresh Ved, Chair of the TiE Angels Group Seattle program. “We believe that their platform and proprietary NLP and machine learning technologies will revolutionize big data processing.”
“We immediately recognized the growth potential of Minetta Brook’s technology,” said Nathan McDonald, President of Keiretsu Forum Northwest, “Our members worked hard to complete the due diligence and validate the potential of this investment opportunity and lead the initial funding.”
The company will be shortly announcing their first product running on their big data intelligence engine as it emerges from private beta.
ABOUT MINETTA BROOK TM
Minetta Brook Inc. builds cutting edge software that spans unstructured and structured data to enable fast discovery of hyper-relevant information from streaming content. Minetta Brook is based in Kirkland, Wash. with an office in the greater New York area.