Recorded Future, led by CEO Chris Ahlberg, has raised $12 million in a new round of venture capital.
VC Editor- Boston Business Journal
Cambridge-based prediction technology startup Recorded Future said Thursday it’s raised $12 million led by new investor Balderton Capital and launched a new product focused on military and intelligence analytics.
Recorded Future, which hadn’t previously disclosed how much VC it’s raised since its founding in 2009, said its funding to date is now at $20 million.
The company said prior investors Google Ventures, Atlas Venture, IA Ventures and In-Q-Tel also took part in the new round. Bernard Liautaud of Balderton has joined Recorded Future’s board, the company said.
The startup’s technology takes data feeds from tens of thousands of Web sources — including news, government filings, blogs and Twitter — and allows the user to search for future events set to happen around certain parameters.
Currently, the technology is being used by government agencies and financial companies looking to get a predictive edge on coming events, CEO and co-founder Chris Ahlberg said in a recent interview.
But ultimately, “anybody that has a Google News alert should use our product. And those are plenty of millions,” Ahlberg said.
Recorded Future said its new product will allow anyone to explore the world temporally and “find predictive signals of what’s to come.”
In March, the company launched an online tool in March that analyzed sentiment about the GOP presidential nomination race and posted a prediction about current leader Mitt Romney, at a time when the race was still up in the air. The analysis also correctly predicted a mid-March surge by Rick Santorum.
Recorded Future has also analyzed Osama Bin Laden letters published by West Point, and the company said its analyses “have gained great interest in intelligence community.”
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