NEWS28 June 2011

Social media tracker Viralheat secures $4.25m funding

Financials North America

US— Social media monitoring company Viralheat has secured $4.25m in funding from venture capital firm Mayfield Fund.

Viralheat analyses web trends and social media in a bid to predict who is about to purchase products and services. The company launched in 2009 and now has more than 1,300 clients worldwide.

The funding will be used to expand Viralheat’s engineering team, further develop its predictive analytics capabilities and expand its client list.

A spokesman for Mayfield said: “We strongly believe that the next great analytics company will focus on future-looking intelligence, and we’re thrilled to be partnering with Viralheat to bring these technologies to market more widely.”

Mayfield Fund was founded in 1969 and manages $2.9bn, investing in startups in the US, China and India.