HG Data raises $2M, looks to Asia
Santa Barbara-based business intelligence firm HG Data has raised $2 million in venture capital from EPIC Ventures.
HG Data’s technology combs millions of web documents and offline sources to create comprehensive databases of business relationships. In 2012, for example, the company released a census of which worksites were operating thousands of specific kinds of software, from Adobe and Salesforce.com to SAP and VMware.
“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,” Craig Harris, CEO and founder of the company, said in a release.
The company has been honing its algorithms for two years and plans to use the new capital to expand into the Asia-Pacific region.
Harris, the company’s CEO, was the leader of Noza, a data gathering firm that focused on helping nonprofit fundraisers find leads that was acquired by nonprofit services firm Blackbaud in 2010.
Investing alongside EPIC Ventures the most recent round were angel investors including Kevin O’Connor, founder of DoubleClick and current CEO of Santa Barbara-based FindTheBest; Eric Kanowsky and AJ Rice, both co-founders of SantaBarbara-based Software.com; and Tim Baskerville, former CEO of JupiterResearch.