Semantic search firm NetBase has raised $9 million in a third round of funding. The company says its technology “reads sentences to surface insights from billions of sources in public and private online information.” Customers include five of the top ten consumer packaged goods companies in the U.S., who use the company’s service to gauge consumer sentiment about their products by sifting through social media posts, as well as internal data like survey results and call center transcripts. The company also sells its technology to science and tech publishers who use it to build customized search solutions for researchers.
(You can test some of the power of NetBase’s semantic technology on its consumer-facing Healthbase demo site here, which pulls results about various medical conditions from sources like PubMed and ClinicalTrials.gov).
With the new cash, Netbase will have now raised $18 million since its start in 2005. The funding comes from Altos Ventures and Thomvest Ventures. Cash will be used to “aggressively develop and serve new markets.” NetBase says it will build out its sales, marketing, business development and product management functions.