digiMine lands $20M in venture capital

DigiMine.com Inc. has landed a whopping $20 million in venture capital earmarked for growing the company’s data mining and data storage business.

Bellevue-based DigiMine provides Web-based software that helps companies of all sized who conduct electronic business to manage their own data.

The software delivers business intelligence reports, analysis and marketing applications tailored to the individual businesses using DigiMine’s network.

DigiMine’s services are provided on a subscription basis to its customers.

The Mayfield Fund, a Silicon Valley-based venture capital firm, led the latest financing. DigiMine’s previous investors also participated in the latest deal, which brings the 60-employee firm’s amount of total capital raised to about $25 million.

Yogen Dala, a managing partner at Mayfield, took a seat on DigiMine’s board of directors and Mayfield venture partner Data Settle will sit on the company’s advisory board.

The new firm previously has raised $5 million in venture capital from a syndicate of experienced Internet entrepreneurs and angels from around the country.

That funding was used to acquire DigiMine, then a Redmond-based e-commerce data mining consulting firm.

In addition to Mayfield, the investors in DigiMine include Seattle-based Second Avenue Partners, co-founded by former Mixrosoft president Pete Higgins; Sam Jadallah and Tobert Pollan, managing directors of Internet Capital Groupd; John Cunningham, president of Kellet Investments; Deutsche Bank Technology Fund; Silicon Valley Angels and Keller Investments

Source: Eastside Business Journal


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