Inveready leads $900,000 investment in Bitext

The fresh capital will allow the company to invest in new projects and expand into the US, where the majority of its customers are based.

Inveready's contribution is the third investment to be drawn from Inveready First Capital II, a €20m vehicle that launched in October 2013. The fund's other investments include a a €1m commitment to software developer Clarive Software and a €600,000 round for Conzoom, a business providing data and insight to marketeers.

The VC stated it was attracted by Bitext's niche positioning in the growing big data sector.

Company
Headquartered in Madrid and founded in 2001 as a linguistics consulting company, Bitext now provides text analytics services. Its software provides multilingual analysis of content, categorising text based on features including topics and tone.

The company has an additional office in San Francisco. Its clients include LexisNexis, EY, Vodafone and Salesforce.

People
Ignacio Fonts is Inveready's managing partner. Antonio Valberrábanos is CEO and founder of Bitext.

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• Expansion
• Southern Europe
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• Spain
• Inveready First Capital