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April 11, 2013 /PRNewswire/ --
-New funding will drive next phase of growth and international expansion for online business information platform-
Duedil, the next generation business information service, today announced it has completed its Series A funding round, led by Notion Capital and Oak Investment Partners. Over the last month Duedil has raised a combined
$5m in funding. The latest investment includes new financing from all existing investors, with Spotify investor,
Shakil Khan, also participating with a personal investment in the company. This combined funding will allow the company to expand into new territories and deepen its product offering by tapping into additional data sets. Duedil's new investors join Passion Capital and a group of prominent angel investors as shareholders.
Since its launch in
April 2011, Duedil's business information service has been rapidly adopted by businesses of all sizes including 75 of the FTSE 100. The service provides complete and
instant insight into every private company in the UK and
Ireland, enabling businesses to manage risk and identify new opportunities.
Damian Kimmelman, CEO of Duedil, said: "This new investment will enable us to extend the reach of our service into new regions and accelerate our hiring, especially in engineering and data science. We will also be expanding our product's scope and insight by opening up and linking new and powerful data sets."
"We're very excited to be investing in Duedil," said
Chris Tottman, Partner at Notion Capital. "The Internet is a true transparency enabler and Duedil is a great example of this. The service answers a huge demand in the market for up to date and immediate business information and empowers its users to make more informed decisions."
Patricia Kemp, of Oak Investment Partners said: "Duedil is at the forefront of business information delivery and discovery. We're delighted to help them expand into new territories and provide an increasingly invaluable tool to small businesses, who are truly the backbone of the economy, often making up 50+ percent of GDP."