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Business

HG Data Secures $2 Million in Funding to Bolster Cloud Business Intelligence Platform

HG Data Company of Santa Barbara announced Wednesday that it has raised $2 million in funding led by EPIC Ventures. The investment will be used to increase coverage of the company’s cloud-based business intelligence database and expand into the Asia-Pacific region.

“While LinkedIn maps the connections between people in business, HG Data maps the connections between businesses themselves — who sells to whom, who buys what, and who partners with whom,” said Craig Harris, CEO and founder of HG Data. “After more than two years of honing our algorithms with feedback from top-tier technology suppliers, we are ready to scale our data distribution to the long tail of business-to-business intelligence applications. With EPIC Ventures’ capital infusion in tow, that journey is ready to be accelerated.”

The company’s data procurement technology extracts business intelligence from hundreds of millions of web documents and offline sources to create a comprehensive database of business relationships. Armed with this highly granular intelligence, HG Data is able to empower clients to improve their lead generation and scoring, marketing automation and market share analysis.

In 2012, HG Data released the world’s leading database of technology deployments, which produces a census of the worksites operating thousands of specific enterprise resources, ranging from Adobe and Salesforce.com to SAP and VMware. Selected as one of Outsell’s “30 to Watch” in the information industry for 2013, HG Data already counts four Fortune 100 companies as customers of its business intelligence services.

“HG Data’s robust platform made this a very compelling investment concept,” said Kent Madsen, managing director of EPIC Ventures. “Rarely have we seen such uniformly rave product reviews in our due diligence with customers. HG Data’s unique methodology and sophisticated product set form a winning combination that we anticipate will be a highly disruptive player in the massive company-information market.”

Investing alongside EPIC Ventures in this funding round were angel investors including Kevin O’Connor, founder of DoubleClick and current CEO of FindTheBest; Eric Kanowsky and AJ Rice, both co-founders of Software.com; and Tim Baskerville, former CEO of JupiterResearch.

HG Data’s leadership team brings a wealth of experience in building business information brands. Prior to founding HG Data, Harris served as founder and CEO of NOZA, Inc. through a successful acquisition by Blackbaud, Inc. in 2010.

— Alex Koritz is a publicist representing HG Data Company.

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