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TrendKite Closes $3.2M Series A Round, Brings ROI to PR
|By Business Wire
|June 11, 2014 07:35 AM EDT
the company bringing ROI to PR and marketing, has announced $3.2M in
Series A funding, led by Mercury Fund and Silverton Partners. This
second round of funding comes on the heels of a $1.2M seed round last
fall, bringing TrendKite’s total funding to-date to $4.4M. TrendKite
plans to use the funds to aggressively hire world-class talent, further
invest in the company’s big-data processing infrastructure and expand
the sales team to service growing demand for the TrendKite platform.
TrendKite is also announcing an enhanced feature set for its cloud-based
platform and the hiring of new CEO Erik Huddleston, the former EVP
Product and CTO of the social performance software company, Dachis Group.
“This round of funding will allow TrendKite to bring a radically
different approach to media monitoring, measurement, and reporting,”
said CEO Erik Huddleston. “I joined TrendKite because I saw the
opportunity to apply big data analytics to an industry where innovation
no longer occurred and the incumbents no longer make meaningful
investments in the space. I couldn’t think of better partners to help
capitalize on that opportunity than Mercury Fund and Silverton Partners.”
Using Big Data Analytics to Make PR Transparent
TrendKite quantifies the impact of PR for brands and their agencies.
Using big data analytics, TrendKite learns about a company, its
leadership, products, competitors, and industry—then pinpoints the
highest-value digital earned media. PR professionals use beautiful,
automated reports to illustrate traction, while clients gain full
transparency into the ROI of their PR efforts.
The Series A round led by Mercury Fund and Silverton brings deep
experience in big data analytics and marketing technology. Mercury has
funded big data analytics companies including Infochimps (acquired by
CSC) and both Mercury and Silverton funded BlackLocus (acquired by The
Home Depot). Seed-round TrendKite angel investors included DreamIt
Ventures, GameFly founder Sean Spector, Inovalon founder Ray Walheim,
BlackLocus founder Rodrigo Carvalho and OtherInbox founder Josh Baer.
“Although we were always impressed by TrendKite’s vision to automate
media monitoring and its strategic role within marketing, the latest
version of TrendKite’s cloud-based platform blew us away,” said Mercury
Fund Managing Director Blair Garrou. “Adding Erik Huddleston to an
already impressive group of industry experts will only accelerate the
adoption of the platform by major brands. We couldn’t be more excited
about joining the TrendKite team right now.” Mercury Fund’s Blair Garrou
will be joining the board of directors, with Mercury Fund’s Aziz Gilani
The New Era of Marketing and PR Automation
CEO Erik Huddleston joins TrendKite founders and Meltwater veterans AJ
Bruno and Matt Allison at a time when the marketing technology industry
is consolidating. As paid, owned and earned media continues to converge,
traditional bottom-of-funnel marketing automation solutions continue to
overlook the needs of modern marketers to manage and optimize earned
media. With enterprise customers BP, Campbell’s Soup, H&R Block and
agency customers including Added Value (WPP), TrendKite is already
garnering strong industry traction by quantifying earned media
disciplines such as PR, influencer marketing and analyst relations.
TrendKite is well-positioned as a complete, top-of-funnel solution for
PR in the cloud era.
TrendKite quantifies the impact of PR for brands and their agencies. By
applying the power of big data analytics, TrendKite dramatically
improves the real-time detection of brand relevant news, quantifies how
it impacts the brand, their competitors, and the industry, and enables
beautiful reporting with a single click. To learn more, visit www.TrendKite.com.
About Mercury Fund
Mercury Fund is a seed and early-stage venture capital firm that invests
in compelling and novel software and science-based startup
opportunities. With over $225 million under management, Mercury partners
with extraordinary entrepreneurs to build globally competitive
businesses, focusing on technology innovation originating in the U.S.
Midcontinent. Since inception in 2005, Mercury Fund has become one of
the most active venture firms in the middle of the U.S., becoming a
“go-to” fund for entrepreneurs at the earliest stages of idea
generation, company formation, and market execution.
About Silverton Partners
Silverton Partners is an early stage venture capital firm based in
Austin, Texas. Silverton collaborates with exceptional entrepreneurs who
are committed to attacking growth markets with cutting-edge products or
services. The principals of Silverton Partners have over five decades of
venture experience in enterprise software, having been the start-up
investors in Tivoli Systems (IPO), Motive Communications (IPO), Convio
(IPO), Waveset (acquired by Sun Microsystems) and BlackLocus (acquired
by The Home Depot).
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