Photo: Flickr/Esther Dyson
Andreessen Horowitz and Index Ventures have co-led a $25 million round in Factual, a data startup.Factual is founded by Gil Elbaz, who is the co-founder of Applied Semantics, which Google acquired in 2003, and used for its multi-billion dollar AdSense product.
On the strength of that reputation alone, Andreessen Horowitz and Index probably wanted to invest. Elbaz says it helped, but investors were also impressed with the product and the team building Factual.
What does Factual do? It organizes data which can be use on other companies mobile or websites. Factual is powering Facebook Places in Japan and UK. Elbaz says he sees local data being a big opportunity for the company.
Every time a company calls on Factual’s API, Factual charges a fee. Depending on the size of the company, the fee can be large or small. Further, if the company is helping improve Factual’s data set then Factual will not charge.
Factual has “generated some revenue,” says Elbaz but its focused on building the service and growing its partnerships.
Michael Ovitz and SV Angel also invested in the round. Ben Horowitz and Danny Rimer will join Factual’s board.
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