Duedil raises $5m, helps its clients dig up information about private companies

Duedil raises $5m, helps its clients dig up information about private companies

Private business information service Duedil (short for ‘due diligence’, get it?) is today announcing that it has closed its Series A round of funding, raising $5 million in fresh cash.

The financing round was led by Notion Capital and Oak Investment Partners, with participation from early Spotify backer Shakil Khan and prior investors. Duedil has earlier raised money from Passion Capital and a group of business angels.

Launched in April 2011 by founder and CEO Damian Kimmelman, a serial entrepreneur, Duedil provides its clients with information about private companies in the UK and Ireland.

This information, diligently aggregated from a host of sources, includes a company’s location details, financial data, credit ratings, current and previous directors, and more.

Duedil’s online business information platform thus enables its clients to make informed decisions when evaluating any type of deal with other companies, manage risk and identify new opportunities.

The London, UK-based company also provides third-party developers with an API to add company data to their applications and services.

Duedil says the capital injection will help it expand internationally and tap additional data sets to boost its product offering. The company is looking to hire more engineers and data scientists to improve its service.

Image credit: Thinkstock

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