NetBase Raised $9 million in Venture Capital Financing
March 27, 2010
On March 2nd, the expansion stage SaaS company NetBase announced that it raised $9 million in a Series C round of venture capital investment. The venture capital investors in that round were Altos Ventures and Thomvest ventures Inc. NetBase provides a really interesting semantic technology that allows market researchers, consumer product companies, and STM publishers, among others, to locate information from billions of sources. According to the company’s press release, in 2009 NetBase increased its team by 30% and its customer base by 300%. The company needed the expansion capital to build on this momentum by ramping up its S&M, sharpen its business development strategies, and support its product management efforts in order to better service and further increase its customer base.