NEWS16 April 2010

Social media monitor Spredfast gets $1.6m venture funding

News North America

US— Spredfast, the maker of a social media monitoring system, has secured $1.6 million in funding from Austin Ventures.

Spredfast says its technology allows companies to manage and measure social media campaigns on platforms including Facebook, Twitter, LinkedIn, YouTube and Flickr through a single dashboard.

The Austin-based firm’s services are used by clients including AOL, Nokia, IBM and Sierra Club.

Mike Dodd, a partner at Austin Ventures who was previously senior VP of corporate development at analytics firm Omniture, said: “We believe social media is the next big channel for online marketers to acquire customers, following in the footsteps of display, search and SEO. This new channel needs a tools platform to manage marketers’ campaigns and measure ROI.”

Spredfast CEO Kenneth Cho (pictured) said: “We’ve been working to establish Spredfast as the Omniture for social media.”