Launch and Funds for Social Media Benchmarker

Chicago-based social media benchmarking firm Unmetric has launched an aggregated index score rating online brand performance; and secured $3.2 million in Series A financing.

The investment round was led by Nexus Venture Partners, and the funds will be used for continued product development and for recruitment in the US.

Unmetric's platform helps major brand clients benchmark their social media presence and investment against competitors. It reports on content strategy, engagement, growth, timing and frequency of tweets and posts on Twitter and Facebook.

The new Unmetric Score is compiled from more than two dozen qual and quant metrics comparing online brand performance, weighted and balanced to give a single figure between 0 and 100 - the best performing brand within the sector is assigned a score of 100, and all the others are scored relative to this, within sector. Scores will be updated at the beginning of each month and are shown publicly in a table for each sector.

CEO and co-founder Lakshmanan Narayan says the Score provides 'an intuitive, yet comprehensive way to gauge performance every month'.

Nexus exec Jishnu Bhattacharjee explains his company's investment: 'We've seen many social media monitoring and listening tools, but what impressed us most about Unmetric is that its technology platform uniquely mines the much-needed benchmarks from the deluge of social media data to provide firms with actionable insights on how they are performing against their competitors.'

Unmetric's home page is at www.unmetric.com while tables of the latest Scores by sector can be seen at www.unmetric.com/unmetric_scores.html .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.