Big data analytics and contextual search technology firm Spire Technologies has reportedly raised USD 8 million in Series A funding from an unnamed investor, at a valuation of USD 23 million.
The new capital will be used for hiring people, product development and expansion, said reports.
Started in 2008, the company with its analytics and contextual search technology helps organisations to hire talent, get market intelligence, build CRM abilities, and prevent employee frauds. The company has recently launched its first Context Intelligence platform Spire TalentSHIP, a unique unstructured data analytics platform for talent supply chain management and talent growth management.
Planning to expand into US and other Asian markets, the company will now tap its contextual search engine to target functions such as market research, financial analysis, credit analysis, fraud intelligence and logistics in sectors including healthcare, travel, education and retail, among others.
Its solutions are currently being used by companies including Atos, Cognizant Technology Solutions, and JDA Software. To date, Spire has processed nearly 700,000 candidates for these customers. The company earlier raised USD 1 Mn in seed funding through a number of investors.
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