What Happened
WorldQuant Ventures announced Monday its investment in Sequentum, Inc. of an undisclosed amount.
Why It’s Important
The investment allows Sequentum to expand its development of software for web data extraction and web automation. Its advancement heightens competition for competing products from the likes of Datawatch Corporation DWCH and Kofax Ltd KFX.
What’s Next
The three-year-old Sequentum will use the funding to accelerate the launch of new products, including a cloud version of its data extraction software, Content Grabber.
“We believe that Sequentum’s Content Grabber technology is best in class and separates Sequentum from its competitors,” Steve Lau, managing director of WorldQuant, said in a press release. “Our investment will drive the company’s growth as it reaches a critical inflection point in its development trajectory.”
The financing round is expected to close by the end of 2017.
WorldQuant is an investor in Benzinga.
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