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Connotate gains $7 million in venture funding

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New Brunswick, N.J.—Data collecting and monitoring company Connotate Inc. has raised $7 million in venture funding, led by Castile Ventures, along with .406 Ventures and Prism VentureWorks. (Connotate has raised $12.5 million to date.) According to Connotate, the new capital will be used to accelerate its growth. The company's current customers include the Associated Press, McGraw-Hill Cos. and Thomson Reuters Corp. Last month, Connotate acquired Fetch Technologies, which, like Connotate, applies machine learning to Web data extraction. Financial terms of that deal were not released.
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