Citibeats raised €2 million from IDB Lab.

Citibeats, a Barcelona, Spain-based software developer using machine learning for text analysis, secured €2 million ($2.4M).

The money was raised from investors including IDB Lab, CAF, family office Estinvest, Previsora General Mutualidad de Previsión Social, with previous investor Everis Fitalent following on.

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. It previously raised €1.5 million in 2019.