DeepDyve looking for $5M for research engine
DeepDyve, a so-called research engine that provides web sites with tools to power more comprehensive searches, says it is looking to raise $5 million in a first institutional round of funding, initially reported by VentureWire. Based in Sunnyvale, Calif., company says it will use the money for further product development and marketing operations. Right now, it digs up research on life science and medical topics. It hopes to hit profitablity before branching into business and financial research, paidContent reports.
DeepDyve previously raised $9 million in angel funding, including $375,000 brought in early last month from undisclosed investors.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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