Viralheat Secures $4.25 Million Series A Round of Venture Funding From Mayfield Fund for Social Media Intelligence Platform
Funds to be Used for Predictive Analytics Capabilities and “Future-Tense” Intelligence, Engineering Talent and Accelerating Revenue Growth
San Francisco, CA (PRWEB) June 28, 2011
Viralheat, the powerful and easy way to get analytics and actionable intelligence on the social Web, today announced that it has secured $4.25 million in a Series A funding led by Mayfield Fund, a top-tier venture firm with a 42 year history of investing in relationships.
The funding follows a seed round of $75,000. The Series A funding will be used to expand the engineering team to further develop the company’s unique analytics and “future-tense” capabilities and to create new products and services for companies to analyze and engage consumers in a more scalable way. The funding will also be applied to accelerate customer acquisition and revenue growth.
“‘Let’s be honest. Social media monitoring and so-called listening as we know it is commoditized and doesn’t provide the insights that today’s businesses seek,” said Raj Kadam, Co-founder and CEO of Viralheat. “We’re drowning in mentions. The next frontier for this market is future-tense intelligence and analytics that tell you what is going to happen ““ not merely what has happened. We’re already the leader in this blossoming category, and the market is responding strongly.”
Viralheat’s existing social media analytics product is among the most powerful, easiest to use and affordable on the market, and provides features such as deep social media trends, sentiment, influencer data, analytics, and intelligence which competitors price at six figures and more.
Building on its core offering, Viralheat recently launched a new “Human Intent” product into private beta. Human Intent for sales pushes social media analytics to new heights by giving businesses the ability to identify individuals online that are on the verge of a purchasing decision, in real-time.
Viralheat’s unique combination of entry-level affordability and sophisticated, enterprise-grade add-ons makes it possible for businesses to gain a competitive edge in the short term, while offering a natural matriculation path as those customers mature and become more sophisticated in their use of social media over time.
“Predictive and actionable analytics arrived through a combination of sentiment, influence, and intent analysis, is the key to leveraging social media for enterprises of all sizes,” said Mayfield Partner Rajeev Batra. “We strongly believe that the next great analytics company will focus on future-looking intelligence, and we’re thrilled to be partnering with the Viralheat team to bring these technologies to market more widely. The Company’s technology and disruptive approach is poised to serve 90% of the market where the competitors can barely address the needs of the largest enterprises.”
The investment in Viralheat supports Mayfield’s ongoing investment thesis focused on analytics companies that create strategic advantages for customers by revealing cause and effect relationships in massive graph data sets. Mayfield is a top-tier early-stage venture capital firm, investing early and globally across the value chain in trends including cloud, mobile, social and green.
Viralheat has grown significantly since launch in 2009, now boasting over 1,300 customers, representing users in 61 countries worldwide.
For more information visit: http://viralheat.com
Viralheat is a simple and an affordable way for brands, agencies, marketers and content producers to monitor content and engagement on the Web and across social networks.
Users can identify key trends, sentiment, understand community engagement, influencers and perform competitive analysis, with an emphasis on anticipating future actions and results. Founded in January 2009 by Rajeev Kadam and Vishal Sankhla, Viralheat was built with fanatical focus on scalability and speedy data analysis at disruptively low costs.
For more information please visit http://www.viralheat.com or follow us on Twitter (@viralheat).
About Mayfield Fund
Mayfield Fund invests in relationships with entrepreneurs, institutions, and the community to transform bold ideas into industry-leading companies. With $2.7 billion under management, Mayfield invests primarily in early stage U.S. companies in the Enterprise, Consumer, Energytech, Semiconductor and Telecom sectors. The firm fosters global entrepreneurship by investing in India-based companies through its Mayfield India fund and in China-based companies with its partner GSR Ventures.
Over its 42 year history, the firm has invested in more than 500 companies resulting in over 100 IPOs and more than 100 mergers or acquisitions.
For more information about Mayfield Fund, visit our website (http://www.mayfield.com).
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/6/prweb8605307.htm