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Comerica Bank-backed WealthEngine Raises $5.1 Million

05/22/2014

According to an SEC filing, WealthEngine Inc. has raised $5.1 million from nine investors via issue of Series B preferred shares and convertible shares. Lead investors in the round included Novak Biddle Venture Partners, of Bethesda, Md., San Francisco’s Streamlined Ventures and HKB Capital, of Dallas, Texas.

The company, according to Crunchbase, has previously received $7.5 million from three rounds of funding. Other backers of the company include Alexandria, Va.-based QED Investors. The company has also received $1.2 million in debt from Reston, Va.-based Comerica Bank.

Bethesda, Md.-based WealthEngine gathers, analyzes and provides data on the wealth, lifestyles and spending habits of households in the U.S. and U.K. The data and analysis offers insight into customer or prospect’s wealth, lifestyle and spending behavior, and helps clients make better market decisions. Clients of the company include nonprofit, luxury goods, retail, and financial organizations.

The company, in April, acquired BrightContext, a massively scalable, cloud-based data stream processing platform that delivers real-time stream analytics from data sources like web click and activity data, mobile activity data, social media, audience sentiment data, point-of-sale data, and transactional data.

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