|By Business Wire||
|July 15, 2014 09:10 AM EDT||
NetBase, the Social Analytics Company, today announced that it has completed a new round of expansion funding of $15.2 million. This amount represents an initial Series D closing for $10.2 million, and involved existing investors Thomwest Ventures, Altos Ventures and WestSummit Capital, as well as new investor SAIF Partners.
The new Series D round will bring NetBase’s total investment to $51.8 million. This funding follows an initial investment of $18.7 million in product development before NetBase’s major social media product launch of monitoring solutions that operationalize the use of social media data and real-time customer insights in early 2012. The company subsequently raised $23 million in Series C-2 closings in 2012 and early 2013.
NetBase, which has seen year-over-year revenue growth of more than 100 percent since its entry into Social Analytics, will use the new investment to fund company expansion and bring more innovative social media monitoring and analysis products to market. In the past year alone, NetBase has added marquee brands including FIFA, Guess, IMAX, Lowe’s, Lockheed Martin and Sony to its customer roster.
“This new funding will enable NetBase to accelerate the go-to-market trajectory that has already seen the company triple its size in just 2.5 years,” said CEO Peter Caswell. “We will expand both people and programs to deliver the innovative social analytics technologies our world-class customers have come to expect.”
NetBase is the award-winning social analytics platform that global companies use to run brands, build businesses and connect with consumers every second. Our platform processes billions of social media posts daily for actionable business insights for marketing, research, customer service, sales, PR and product innovation leaders. NetBase is a trusted partner to AMC Networks, American Airlines, Arby’s, Coca-Cola, Kenneth Cole, Ogilvy, SAP, Taco Bell, Walmart and YUM! Our customers report 34% reductions in the cost of capturing social media insights, 20% reductions in the time spent managing PR, and a significant boost in productivity for many business functions.
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