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An Irvine startup that mines information from websites, blogs, social media and email for business customers closed a $4.5 million inaugural fundraising round.
The round was led by prominent Southern California angel investor and entrepreneur Yuri Pikover. It also included Irvine-based Tech Coast Angels, along with $1 million raised through Angellist, Crowdfunder and Fundable.
Bitvore Corp., launched in 2010, developed a cloud-based service for intelligence gathering systems, according to the company.
The funds from the recent round will be used to build sales teams and expand product markets, according to Chief Executive Jeff Curie.
“We wanted to build a tool with the smarts of a team of researchers that could delve deep into the web for specific information, but simple enough that even someone with no experience could make it productive within minutes,” he said.
Bitvore employs seven people.
The company in January released Bitvore for Munis, a service that gathers information related to municipal bond markets on behalf of investment banks and hedge funds. The system mines seeks information on nearly 200 criteria that affect credit worthiness, culling information from thousands of news, government and social media sources, alerting users in near real-time.
Bitvore is working on similar services for product research, development, and sales.