Backers Raise $5 Million For DigiMine.Com
digiMine.com, a Seattle start-up that plans to be host to and manage data warehousing and data-mining applications for business-to-business e-commerce companies, has closed in on about $5 million in financing.
The company’s backers include Second Avenue Partners, Silicon Valley Angels, Deutsche Bank Technology Fund, Cedar Grove Investments, Kellet Investments and others.
Nick Hanauer, Pete Higgins, Mike Slade and Kieth Grinstein, who recently founded Seattle consulting and investing firm Second Avenue, are advising the company. digiMine’s founder and chief executive is Usama Fayyad, who formerly led Microsoft’s Data Mining & Exploration Group. Other key employees are Bassel Ojjeh, a former developer of Microsoft Commerce Server 4.0, and Nick Besbead, who most recently worked in the Applications Division at Microsoft. The company, with 20 employees, was formed last month. It has acquired the assets and employees of a Seattle e-commerce consulting company.
Seattle Tech Community On Verge Of Even Bigger Boom, VCs Predict
Three former Microsoft executives, who are experts in data mining, on Monday announced the formation of digiMine.com. The Bellevue company, with more than 20 employees, raised about $5 million from Second Avenue Partners, Silicon Valley Angels, Deutsche Bank Technology Fund, Cedar Grove Investments, Kellet Investments and former Microsoft executives Sam Jadallah. The company – led by Usama Fayyad, former director of Microsoft’s data mining and exploration group – will help e-commerce companies monitor purchasing behavior of consumers.
By: John Cook
Source: SEATTLE POST-INTELLIGENCER