Virginia-based decoder Babel Street secures $2M from angel investors
Reston, Virginia-based virtual data interpreter Babel Street was able to raise $2 million from angel investors, VentureBeat reported.
Proceeds from the round will be deployed for the company's sales and marketing efforts. It will also be deployed towards the development of its products, the report said.
Information from its website showed that the solutions offered by Babel Street give users a virtual data interpreter that converts data to "actionable intelligence." By using such information as "source location, language and sentiment," the technology gives answers to the 5Ws and 1H or the why, when, what, who, when and how, of data.
One recent example where Babel Street was utilized successfully was in the Boston Marathon bombings last year. The software was used to focus the search for messages to a particular area in the vicinity of the bombings.
In an interview with VentureBeat, Babel Street Chief Executive Officer Jeff Chapman said, "Within minutes of the bombing going off ... our system dropped a bubble over the bombing, and we got geo-enabled data there. We rewound 24 hours, showing them [researchers] what the data was leading up to it. ... We were able to pull his [Dzhokhar Tsarnaev's] VK [European social media] account and basically create this social nodal analysis very quickly for decision-makers."
Chapman said that it was from this search that a profile of the bomber was created. To come up with that profile, the company used the mentions he made to other individuals, how he talked and the topics he liked to tackle most of the time. That sketch of the bomber is then placed side by side with that of previous terrorists and the profile is deemed complete, the report said.
Babel Street features quick and search because it has already placed all their data into the platform. Moreover, it also the spelling of terms and names in many languages, contributing to the ease and efficiency with which its technology is used, the report said.