Venture capital firm Passion Capital, Federico Pirzio-Biroli and Wonga co-founder Jonty Hurwitz are being joined as investors in Duedil by Sherry Coutu and Tom Hulme.
The deal represents a follow on from the seed round that the financial data business closed in January which saw Wonga CTO Hurwitz join as an angel backer, and takes its total investments received to over £1 million.
According to Duedil, all participants from the previous two rounds are contributing again. The fresh capital will now allow the free database to move into previously untapped markets.
Duedil has previously produced a map which attempts to plot out the various technology companies which are located in East London’s Tech City area.
The London-based business is readying itself for the release of its business data application programming interface (API), and will then initiate new data sets and expand the services it currently offers.
In an entrepreneurial capacity, Coutu has founded and sold two businesses including Interactive Investor International, which she led through angel and venture rounds before floating on the London Stock Exchange and Nasdaq markets in 2000.
Hulme is design director at design firm IDEO and founder of OpenIDEO. He took part in an angel round in July which saw worldwide relocation business MOVE Guides raise £400,000.
Duedil founder and CEO Damian Kimmelman says, ‘this round of funding will allow us to expand our team and focus on growing our data science department.
‘We have recently hired two more data scientists – Naaman, who recently graduated with a PhD in Atomic Physics from the University of Cambridge, and Ahmed, who graduated from Oxford University and is focusing on developing machine learning and network analysis techniques to extract greater insight from Duedil’s data.’