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Quid gets $10M from Atomico, Founders Fund, & more

The company also gets support from Ron Conway, Max Levchin, Charles Lho, Endeavor, and Infocomm

Financial trends and news by Faith Merino
July 25, 2011 | Comments
Short URL: http://vator.tv/n/1d1a

Intelligence software company Quid has a pretty broad name.  "Quid" is Latin for “What,” and that pretty much sums up the company’s overarching thesis.  But broadness notwithstanding, the company has found support in some of the heaviest hitters in the valley, including Ron Conway, Peter Thiel, and Max Levchin.  Quid announced Monday that it has secured $10 million in a Series C round from Atomico, Ron Conway, Endeavor Vision, Infocomm Investments, with follow-on investments from Peter Thiel’s Founders Fund and Amicus Group CEO Charles Lho.  Additionally, Slide founder Max Levchin has joined the company’s board of directors.

Founded in 2009, Quid has developed software that is capable of collecting, organizing, and visualizing vast amounts of open information on the Web.  For example, among Quid’s clients is Microsoft, which, for obvious reasons, is interested in tracking new developments in technology.  Quid’s software can help it stay up-to-date by providing a visual analysis of emerging technology sectors as they crop up around the world, monitoring technology development in emerging markets, tracking scientific breakthroughs, providing an overview of which companies are leading technological innovation, finding out who’s investing, and more.

But Quid isn’t just limited to the technology sector.  Clients range from technology companies to government organizations and NGOs, and Quid CTO Sean Gourley tells me that the company has plans to expand to other verticals as well.

“At the moment we are applying our technology to understanding the global landscape. This is where we have launched our software,” said Gourley. “But our technology is able to be applied to other verticals. We are currently looking at global conflict as a next possible vertical for the intelligence platform. We have tested our technology in this space and initial results show that it performs well.”

Gourley has a pretty interesting background in applying quantitative analysis and algorithms to global conflicts to isolate patterns and predict outcomes.  You can check out some of his analyses here at his website.

The company plans to use the new funds to hire additional engineers, develop its interfaces and visualizations, and capture new data streams. 

 


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