NEWS20 April 2010

Networked Insights secures $5m more funding

Financials North America

US— Social media monitoring firm Networked Insights has received a further $5m in funding from existing investor Kengosa Capital Partners.

Kengosa first ploughed $4m into the firm when it was launched in 2007 by Dan Neely.

The cash will be used to expand the firm’s SocialSense social media monitoring tool and to launch new products based on the same technology. The firm will also invest in its sales and marketing programmes.

CEO Neely (pictured) said: “SocialSense is built to aid marketers and advertisers in their daily jobs by providing them with brand or campaign insights to help shape media buys, messaging, innovation and evaluation. What brands and agencies can learn from social media has applications far beyond social media. This infusion of capital will propel us even further in that direction, tapping the power of the largest focus group in the world to improve any and all marketing activities that rely on understanding the consumer.”