The social media market has grown explosively over the past 36 months (the key metric, social ad spend, is growing at 49% per annum, and is expected to reach ~$40bn by 2017) especially due to the ongoing shift of ad spend towards the social channel (expected to capture 6% of advertising budgets by 2017). To manage these budgets, dedicated social media analytics platforms such as SocialBakers have become a crucial part of this market and are now one of the fastest areas of growth in web-based software-as-a-service (SaaS) models today. From the beginning, Socialbakers has shown exceptional vision and role in shaping the emerging social media analytics market. By doing so, the company has quickly established itself as a market leader, and we are excited to support its expansion and continued growth. Many social media platforms today are still campaign-based broadcasting and not true engagement or relationship management interaction with customers, nor are these platforms scalable analytics solutions which could give CMOs a clear ROI on social marketing investments across the globe. Socialbakers is the only social media analytics company to have focused from the beginning on data, analytics and market insight as a competitive advantage (especially as customer needs for social analytics have become more sophisticated over time with the increasingly important role for data). Since investing in A-round in 2011, we have been deeply impressed with the company’s vision and execution, strong revenue growth and phenomenal customer success rate. This funding is entirely about allowing Socialbakers to meet the nonstop global demand for its product. Congratulations to the entire team!
Posted on 18. Februar 2014 by Jason Whitmire