Connotate, Inc., a provider of solutions that help organizations monitor and collect data and content from the Web, announced that it has raised $7 million in Series B funding led by Castile Ventures, with participants including new investor Prism VentureWorks and existing investor .406 Ventures. Connotate will apply this new capital to execute on an accelerated growth strategy that includes establishing a world-class partner program and international expansion.
In the recent weeks Connotate has acquired Fetch Technologies which appears to have significantly enhanced Connotate’s market position as a leading provider of data aggregation and monitoring solutions. According to IDC the Big Data market is to hit $16.9bn by 2015, therefore information collection and monitoring is a critical challenge for organizations trying to leverage Web content for business use. Connotate provides companies of all sizes with an automated functionality that allows organizations to monitor and extract the precise information they need to deliver custom data solutions and drive ROI.