RiverGlass Inc., a Champaign, Ill.-based Web monitoring and analytics company, has raised $2.4 million in new VC funding. Return backers include RPM Ventures, IllinoisVentures and Country Insurance & Financial Services.
RiverGlass, Inc., a provider of intelligent web monitoring and analytics solutions, announced today that it has raised approximately $2.4 million in a new round of venture capital financing. Proceeds will fund expansion of its product development and sales teams in order to propel its growth in the commercial market.
“The additional funding we're announcing today will allow us to carry over the success we have had in the public sector around threat mitigation into the commercial market,” said Kirk Dauksavage, CEO, RiverGlass. “We believe businesses are looking for a way to make the Internet a strategic information resource to help drive success. The truth is that technologies designed to tackle the information overload problem have been woefully lacking with regard to the biggest offender, the WWW.”
RiverGlass is changing all that through solutions that intelligently locate, collect and summarize relevant internet content within the context of a user's area of interest. RiverGlass develops technologies that help businesses manage unstructured (text) data from the Internet or virtually any other internal source. RiverGlass software is built upon an analytics platform that learns the priorities of an organization or individual user, enabling automatic notification of information and time-saving analysis of found content.
Today, several state and federal agencies use RiverGlass software as part of their homeland security and crime-fighting initiatives. Considered 'the source of first resort' by the intelligence community, the Internet has a pivotal role to play in helping commercial organizations protect and promote their business assets.
“Just about every hour of every day content is being added to the Internet about a company, its people, products and services