NEWS20 April 2010

Social media monitor Overtone receives $7m cash injection

Financials North America

US— Social media monitoring firm Overtone has been awarded $7m in private equity funding.

The Series C round of funding was led by existing investors ABS Ventures and Dolphin Equity Buyers and will be used to develop new software products to work alongside the firm’s OpenMic tool, grow its customer base and expand its professional services organisation.

Overtone’s president and CEO Craig Brennan said: “We’re delighted by the continued support of our long-time investors and their belief in our dedicated team and the strength of our products. The latest funding enables Overtone to further expand our service offerings to help our customers get to the next level in their customer listening programmes in addition to paving the way for innovative advancement of our OpenMic listening system.”

Overtone said that several major OpenMic clients including Yahoo and Microsoft have signed contract renewals, and new customers have come on board in the CPG and travel and hospitality industries.