This is a tough time for any company selling premium-priced services to hedge funds… Monitor110, a NYC startup that analyzed raw, unstructured internet content to help hedge funds make decisions, is shuttering. The announcement was made in a memo sent out by CEO W. Brennan Carley that’s been posted on the company’s site (via SAI). The company had raised over $20 million from DFJ, DFJ Gotham and Acadia, having last raised $11 million in late 2006. In May, Monitor110 went out for a new round but was unable to complete it, hence the closure. The service tracked information from over 50 million sources (message boards and the like), with the aim of distilling news and measuring sentiment in a manner useful to traders.

SEE ALSO: Financial Info Firm Monitor110 Gets Another $11 Million In Third Round

Rafat adds: Wow, that was really quick. This was one of the most hyped financial information startups in 2006, and both the founders had these deep-thought blogs which dissected the fin info economy, and predicted the demise of traditional sources such as Bloomberg and Reuters with some elan. Oh well…