Cyveillance has completed a $14 million round of venture capital funding. Participating in the round were Lazard Technology, ABS Capital Partners and New Enterprise Associates, leading shareholders in the company. Also participating were Graystone Venture Direct Equity, LP and The Dinner Club, LLC.
The funding represents another in a series of events occurring within a short time frame. A new president and CEO, Panos Anastassiadis, was brought into the company in late April. Since then, the company has announced several partnerships and high profile clients, including JPMorgan Fleming Asset Management and PricewaterhouseCoopers, both new clients for Cyveillance International in the UK, and Dow Jones Indexes in the US.
The funding provides additional capital to grow sales internationally through vertical markets, and to introduce new technologies as the need for automated Internet intelligence expands within Global 2000 companies. Additionally, the funding will support the company's recent progress in strategic partnerships with international consulting and brand identity organisations.
"This new funding will give the company as a whole, the impetus we need to remain the leader in the Internet intelligence space and aggressively grow our client base across Europe," said Andrew Muir, managing director of Cyveillance International. "As companies realise the critical value of protecting their reputations and brands online, Cyveillance can continue to fill this important market niche."
"Current investment market conditions are much like rough seas where investors selectively harbour their most valued portfolio companies, and Cyveillance is pleased to be among this group," said Anastassiadis. "We believe that our value for investment is tied directly to the value we deliver to our extensive list of brand-name customers."
About Cyveillance International
Cyveillance enables businesses to capture revenue by taking control of their online brand identity, digital assets and corporate reputation. The UK-based company is a wholly owned subsidiary of US-based Cyveillance Inc.