Dataminr, a New York City-based startup that analyzes public data about events in real time, has closed a $392 million funding round at a $1.6 billion valuation, more than twice its 2015 valuation of $680 million.

Why it matters: Tools like Dataminr are increasingly in demand as an inundation of data and information makes it harder to cut through the noise. Dataminr's customers include companies in finance, media and government.