NEWS16 May 2011

Claritics gets $1.5m in private equity funding

Financials North America

US— Social media intelligence firm Claritics has secured $1.5m in Series A funding from private equity investors led by Cervin Ventures and TIE Angels.

The cash will be used to develop the firm’s analytics suite, which gathers data from the social web and delivers it to clients through a dashboard, as well as funding growth in Claritics’ sales and operations.

CEO and co-founder Raj Pai said: “Our goal is to organise the enormous amount of social data in a way that not only delivers immediate, actionable insights but allows our clients to create automated processes around it and leverage predictive modelling to optimise campaign performance on-the-fly. This allows us to offer forward-looking social intelligence instead of the typical, backwards-facing analytics approach.”

The Claritics analytics platform has been in private beta mode with an undisclosed number of media companies and Facebook application developers. The firm said it will soon begin accepting applications for the open beta version.