Social-media analytics firm Collective Intellect gets $6.6 million
Apparently some VCs think number-crunching Twitter talk is worth venture cash, as the Colorado-based company rolls up a Series B round.
Collective Intellect, a Boulder, Colo.-based analytics firm that specializes in crunching the discussion on blogs, forums, and social networks, announced Wednesday that it has netted $6.6 million in Series B venture capital. The investment round was led by Grotech Capital Ventures and included funding from Crawley Hatfield Capital as well as existing investors Appian Ventures and Croghan Investments.
With the fresh cash, Collective Intellect said it will beef up its marketing and sales campaigns to pull in more clients and revenue. The company's Series A round, $2.6 million in February 2006, was led by Appian Ventures.
Social-media analytics firms have beenas advertising turns an eye to the likes of MySpace.com and Twitter as an alternative to "traditional" Internet advertising, with the added possibility of uber-targeting along with social networks' reputation for being where the Web's "cool kids" currently reside. Facebook has even released its own rudimentary analytics feature, .
At the same time, there's the common knowledge that marketing campaigns on social networks. Whether or not specialized analytics firms like Collective Intellect are actually any good at boosting those ad dollars--it's really still too nascent a field to tell--there are probably more than a few nervous advertisers who want to make sure they don't miss this bandwagon.
That wholeis a pretty big deal, after all.