Fortress Backs Dataminr With $100 Million Convertible-Bond Deal
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Dataminr has secured $100 million in financing from Fortress Investment Group, the second fundraise in a little over a month for the artificial-intelligence platform that was valued at $4.1 billion.
Dataminr is raising the money through convertible debt, according to a statement seen by Bloomberg. Startups often use such debt instruments to avoid diluting equity ahead of a public listing.