Dataminr Upcoming IPO: When will the big event occur?

While consumer-facing applications like chatbots often get a lot of attention as AI becomes more prevalent, this technology has far-reaching applications beyond generating text and images. One of the most powerful uses of AI is to analyze vast quantities of data and pull out what's meaningful to relevant users.

Dataminr is one such company using AI to scan billions of data points per day and provide real-time predictive, generative, and regenerative insights. Its powerful AI platform is used by a wide range of businesses and organizations, ranging from CNN to the United Nations.³

Dataminr is also one of the most highly anticipated IPOs in the AI space, although details are sparse.

In 2021, following its Series F, Dataminr CEO Ted Bailey told CNBC that the company was eyeing an IPO in 2023. While several AI companies were already gaining traction in the public market at that time, Bailey noted that Dataminr was focused on the long term and investing in areas within the company like international expansion, so they weren't rushing into going public.⁴

Since then, no definitive plans have been announced. That could potentially be explained by the slowdown in IPO activity over the past few years, going from 397 U.S. IPOs in 2021 to 71 in 2022.⁵ While the pace is starting to pick back up, many expect 2025 to be a more friendly IPO environment,⁶ so perhaps Dataminr will be a better IPO candidate then.

As evidence of this possibility, Dataminr's COO Brian Gumbel, hired in April 2024, told CRN at that time that the company "absolutely" still aspires to go public and that he thinks there will be an opportunity to do so "when the market opens up and the timing is right."⁷

Dataminr: company background

In the 15 years since its founding, Dataminr has grown to become a powerhouse in AI-driven event detection. The company's AI platform scans public data across the web, including text, images, video and sound to provide insights in areas such as supply chain and cyber risk for enterprises and emergency response for public sector organizations.

Dataminr was founded by Ted Bailey, who still serves as CEO today, alongside fellow Yale graduates Sam Hendel and Jeff Kinsey.⁸

Accelerating real-time insights

The world is swimming in data, but quickly making sense of all this information can be difficult. Dataminr, however, uses AI to analyze billions of data points daily across nearly one million public data sources.⁹ The company's AI platform can then provide predictive insights and uses generative AI and regenerative AI (meaning the generative outputs refresh as new information comes in) to help users digest real-time events and risks.¹⁰

Part of the company's rise to popularity has included reporting on the death of Osama Bin Laden to its clients before major news sources did, by mining data from Twitter.¹¹ Today, Dataminr helps newsrooms break stories, along with providing real-time event insights to large corporations and public sector organizations.

On the enterprise front, Dataminr helps in areas such as corporate security, e.g., by providing signals to companies about weather-related events that could cause physical safety issues for employees and operational issues with supply chains. Dataminr also helps companies identify cyber risks early.¹²

For public sector organizations, Dataminr can provide insights in areas like public safety events so first responders can react sooner to events like fires and floods.¹³ Its public sector clients include agencies such as New York City Emergency Management.¹⁴

While public data on Dataminr's growth is limited, the company was reportedly nearing $200 million in annual revenue as of April 2024. COO Gumbel also told CRN that he believes the company is on its way toward becoming a multi-billion-dollar revenue company.¹⁵

That said, it hasn't been a smooth upward trajectory. Like many tech companies, Dataminr faced economic headwinds in 2023 prompting it to lay off about 20% of its staff, although the move was also reportedly made for operational efficiencies and because of advancements in its AI capabilities. The layoffs also aligned with the company moving toward profitability, perhaps suggesting that it would not need to raise additional outside funding, speculated TechCrunch.¹⁶

Dataminr stock price history

Dataminr's Forge Price is $11.00 as of early November 2024, with relatively small fluctuations over the past year.¹⁷ Forge Price is a derived data point that reflects the up-to-date price performance of venture-backed, late-stage companies, and is calculated based on a proprietary model incorporating pricing inputs from primary funding round information, secondary market transactions, and indications of interest (IOIs) on Forge.

However, Dataminr's stock price is only a quarter of what it was after its last primary funding round in 2021, when its Series F valued the company at $4.1 billion and $44.00 share price.¹⁸

Dataminr's stock price rise and fall, and more recently its stabilization over the past year or so, resembles the trajectory of the Forge Private Market Index — a broad measurement that reflects the up-to-date performance and pricing activity of venture-backed, late-stage companies that are actively traded in the private market. That said, the Forge Private Market Index is down -53.3% over the past three years, which is not quite as steep as Dataminr's decline.¹⁹

Dataminr funding history and private market valuation

Dataminr has raised over $1 billion in total, starting with a $3.43 million Series A in 2010 that valued the company at $11.42 million. In 2013, its Series C marked a big jump in valuation at $156.46 million, and it reached unicorn status in 2018 with its Series E, raising nearly $400 million at a $1.6 billion valuation.²⁰

Dataminr's last primary funding round came in 2021, when it raised $475 million for its Series F at a post-money valuation of $4.1 billion.²¹

Along the way, Dataminr has brought in investment from a wide range of venture capital firms and asset managers such as Venrock, IVP, Goldman Sachs, Eldridge Industries, and Morgan Stanley.²²

Looking ahead

Although the originally proposed timeline for Dataminr's IPO has come and gone, the company still appears to be heading in that direction, especially if public market conditions improve.

Check back here or take a look at Forge’s upcoming IPO calendar to stay in the loop about a possible Dataminr IPO and other pending public offerings.

If you’re interested in investing in private companies like Dataminr before they go public, read more about pre-IPO investing or register on Forge Markets today to get started.