August 7, 2011
As the world becomes increasingly complex and information-intensive, organizations need a way to make sense of data and harness it to solve the problems of the future. Predictive analysis startup Quid is helping organizations do just that.
Quid creates analytical software for companies, NGOs, banks and funds. Using open source intelligence, Quid captures data, structures it, and enables people to visualize and interact with the information.
Specifically, Quid maps out a sector, such as biofuels or microbiological systems manufacturing. They collect large amounts of data, from the amount of government funding available to number of jobs in the sector. Then, Quid creates a visual representation of all the information on a map. Blue-chip clients, such as Microsoft, pay around $1 million yearly for a subscription to Quid’s insights. These insights guide complex decisions with white space analysis, R&D analysis, and emerging market and technology development monitoring
Quid currently focuses its research on the technology sector. The company received $10 million from multiple investors in a Series C funding round in July. Quid plans to spend these funds on additional engineers and expansion into new industries.
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