Social media analytics firm Simply Measured secures $20M in Series C round
Simply Measured raised $20 million for its Series C funding round, a statement about the financing said.
Trinity Ventures led the round for the social media analytics and measurement firm which was also participated in by Bessemer Venture Partners, Four Rivers Group, MHS Capital and other current backers of the company. As part of the deal, Trinity Ventures General Partner Karan Mehandru will be joining the Board of Directors at Simply Measured.
Proceeds from the latest funding round will enable the company to proceed with its rapid growth and fuel its product expansion. Simply Measured Co-Founder and Chief Executive Officer Adam Schoenfeld said in a statement, "This round of funding validates Simply Measured's leadership position in the market and enables us to invest in our product and team for the long term. We'll use this capital to scale our best¬-of¬-breed measurement and reporting solution, giving marketers more insights in less time."
Simply Measured is utilized by worldwide brands to measure the performance, understand the impact and thus get strategic direction from the data derived from social media networks like Facebook, Twitter, LinkedIn, Instagram, Tumblr, You Tube, Vine and Google+. The platform features more than 40 unique customizable reports that allows information to be measured, analyzed and shared easily. Among the brands it serves are Pepsi, Kia Motors, Billboard, American Express, Samsung, Chipotle and the Super Bowl Champion Seattle Seahawks, the statement said.
Trinity Ventures General Partner Karan Mehandru said in a statement, "Simply Measured is setting a new standard in the social media measurement space by empowering marketers to visualize all of their social data in one place and analyze the effectiveness of their social campaigns. We see reporting and analytics as a 'must have' component of social media marketing and, in turn, for the broader marketing function. There is tremendous opportunity for further growth and we look forward to working with the Simply Measured team to help marketers leverage their social media strategy in practical and meaningful ways to improve customer acquisition, engagement, retention and support."