Reading-based social media aggregator DataSift has picked up the pace with a further $42m of funding led by new investor Insight Venture Partners, along with others (all US-based). This is the third round for DataSift (see IndustryViews Venture Capital 2012 Review) and brings the total raised to $72m.
DataSift was founded in 2007 by Nick Halstead who led the company until November 2011, when he stepped aside into the CTO role. Former Yahoo business development executive Rob Bailey took over as CEO ahead of the company’s official launch.
According to the excellent TechCrunch, DataSift is turning over some $25m p.a. and is ‘intentionally’ not profitable. DataSift is aiming for the proverbial ‘billion dollar IPO’. In an interview with the Wall Street Journal, founder Halstead was critical of European VCs, claiming all they are interested in is apps, “not the things that power the apps”.
Whether or not the case, DataSift certainly has its believers at least in the US.