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May 8, 2015

Banjo raises $100m to build ‘crystal ball’

It brings the company's total funding to $121m.

By CBR Staff Writer

California-based social data analytics firm Banjo has raised $100m from Softbank and BlueRun Ventures.

The Series C round brings the company’s total funding to $121m. Banjo landed $16m and $5m in two funding rounds in 2014 and 2010 respectively.

Banjo will utilise some of the new capital to appoint new engineers and data scientists.

Banjo CEO Damien Patton said in a blog post that the company is building a crystal ball that helps customers see and know virtually everything happening across the globe the moment it happens.

According to Patton, the funding will help make the company’s vision to build the ultimate crystal ball a reality.

Patton said: "By organising the planet’s social signals by location, we’ve changed the game for our customers, and we are just getting started.

"Now Banjo is moving far beyond social signals. Our technology will know and understand everything, about any location, at any time, creating value for everyone, from individuals to corporations to continents"

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Softbank vice chairman Nikesh Arora said: "Banjo is in an interesting space, bringing together the ideas of big data, social, local, mobile and trying to derive value from that combination for both consumers and businesses."

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