Citibeats announced EUR 1.5 million in an international funding round led by Wayra.

Citibeats, a Barcelona, Spain-based software developer using machine learning for text analysis, announced the completion of an investme round totalling EUR 1.5 million ($1.7M).

The money round was led by Wayra Deutschland GmbH, the venture capital arm of Telefónica, the venture capital arm of Telefónica, and included H & S Investment, Bankinter, IDB Lab, Everis and angel investors from the network of the IESE Business School (Padeinvest). The fresh capital will be used to drive internationalization of its services in Europe and beyond.

Citibeats, founded in 2018 by CEO Ivan Caballero García, developed an analytics platform unique in identifying social trends and concerns as it discovers, categorizes and synthesizes people’s opinions from large quantities of data. It offers qualitative information and sentiment insights that give more meaning to your data.

Customers include government institutions such as the Spanish Ministry of Foreign Affairs, universities and companies in the financial and commercial sector.