NEWS11 November 2011

NewBrandAnalytics nets $26m for social media customer feedback

Financials North America

US— NewBrandAnalytics, which provides clients with business intelligence gathered from social media customer feedback, has received $26m in a series B funding round.

The money will be put towards the firm’s expansion and to aid customer acquisition. Co-founder Neil Kataria said: “The expansion capital validates NewBrandAnalytics’ approach as the most effective way to make sense of all the customer feedback from social media now available to businesses.

“The internet is becoming a giant customer survey and as this new feedback channel emerges, we will use this capital to further accelerate our growth and to ensure the delivery of the market’s most powerful solutions to our customers.”

New Enterprise Associates led the investment with participation from Revolution Ventures, The Entrepreneurs Fund, Starwood Hotels founder Barry Sternlicht, Quest Hospitality Ventures, SS Future Fund and venture capitalist Ted Leonsis.

Meanwhile, NewBrandAnalytics has hired Mark Lomanno as a board member and Janet Gerhard as executive director of hospitality. Lomanno was previously CEO at hotel industry insight firm Smith Travel Research and will be tasked with developing strategies, creating and enhancing new customer satisfaction research offerings and building relationships with clients in the hospitality sector.

Gerhard, who was at Maritz Research for nearly a decade, will be responsible for the hospitality team’s marketing strategy, team coordination and major accounts.