NEWS5 October 2012

GraphDive raises $1m to build-out social insights product

Financials North America

US— Social insights firm GraphDive has raised more than $1m from investors including Correlation Ventures and Crosslink Capital, which it plans to spend on developing its social media analytics and ad targeting software for businesses.

The company says it will also use the investment to scale up to meet customer growth. It plans to build industry-specific products for clients in e-commerce, travel and media.

The company’s flagship product is the Social API, which helps brands to monetise social data on an invite-only basis. The technology mines social graphs for information businesses can use to gain insight into their customers’ interests and demographic data. Based on this knowledge, they can make customised recommendations with the aim of increasing engagement.

GraphDive CEO and co-founder Shahram Seyedin-Noor (pictured), said: “The explosive growth of social data, combined with the adoption of Facebook Connect, presents an amazing opportunity for businesses to serve their customers using our social API where big data analytics meets social for the enterprise.”