Social media analytics specialist tracx has secured an $18m Series C round of financing, which it will use to drive product innovation, hire new staff, and fund the launch of additional global offices.
With existing locations in New York, Tel Aviv and London, tracx’ solutions allow real-time relevancy analysis and data mining of social media, giving insights into customer, competitor and influencer behaviour. Analysis can be geographic, demographic and/or psychographic, and is used to identify and target influencers, improve planning and enhance monitoring.
New funding has been led by Edison Partners, which contributed $10m towards the round. Existing investors Flybridge Capital, Mousse Partners, Klingenstein, and Fields & Co also participated. The round brings the company’s total investment since founding to $28m.
CEO Eran Gilad (pictured) comments: ‘Edison shares a commitment to our vision; we are already realizing the value of their unique partnering approach. The Edison investment and relationship will strengthen our ability to capture a large and fast-growing market opportunity while continuing to innovate ahead of the competition.’
About: Tracx is a NYC-based company with a SaaS platform for sophisticated brand marketers who want to do more than monitor their social media presence, but actually manage it. The company provides an end-to-end solution that indexes the entire social web and delivers the most relevant, high impact audiences and conversations by capturing a 360 degree view of activity around a brand. The platform allows marketers to sift through streams of social media data and drill down to provide geographic, demographic, and psychographic insights and to monitor performance against competitors while planning, monitoring, engaging, and measuring influencers all in one place.