digiMine lands $20.3 million in third round

Data mining company digiMine Inc. of Bellevue said it has raised $20.3 million in a third venture round led by Mohr, Davidow Ventures, bringing its funding so far to $45.8 million.

The Mayfield Fund, which led a $5.44 million second round in November, also participated in the latest financing, digiMine said.

DigiMine helps companies analyze data they have gathered on their customers. Clients include Dow Jones & Co., MarketWatch.com, Microsoft Corp. and Nordstrom.com.

The company was founded in March 2000 by former Microsoft executives Usama Fayyad, Bassel Ojjeh and Nick Besbeas.

DigiMine said the new funding will be used to expand product development and grow its sales and marketing presence in both the domestic and international markets.

The company said it expects this to be its final round of venture funding, as it anticipates profitability in 2003.

Source: Puget Sound Business JournalPDF

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