Recorded Future Raises $12m From Balderton and Google Ventures to Predict Future
The start up space has seen a lot of new ideas related to using the waste amounts of data floating around on the internet. An interesting new vision has come from Recorded Future which uses the incredible amounts of information available online to predict upcoming events.
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This may all seem like the plot to some science fiction movie but the company’s idea has attracted the attention of many venture capitalist firms. Recently, Recorded Future announced that it had gained Series C funding from Balderton and Google Ventures which amounts to 12 million dollars.
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The latest infusion of cash into the business has brought the total funding gained by Recorded Future to 20 million. Previous investors have included the CIA through In-Q-Tel, Google, IA Ventures and Atlas Venture. The general public does not have much of an idea about the exact details of the search program but it seems that enough venture capitals firms understand its potential to invest money. The inclusion of the CIA and Google in this group is another indication of how far along the idea has come.
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How the firm expects to make predictions from online data is not clear but according to mouth pieces at Recorded Future the company goes through selected online news sites, blogs, niche sites, trade publications, government sites, financial databases and other venues of information. The information gained from these areas is then analyzed and presented in visualization. This when and where outputs will the key to help figure out what will happen in the days ahead.
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Practical applications of Recorded Future’s technology can easily be found with clients like the CIA and financial markets coming to mind. This is exactly why the company has chosen use cases that involve finance, business intelligence and the defense and intelligence sectors to test and showcase what they can do.
