DataSift Raises $42m

Social media analyst DataSift has raised $42m in a Series C round of funding, and plans to accelerate company growth with increased investment in its social data platform and sales and marketing team.

Launched in the UK in 2008 by TweetMe creator Nick Halstead and rolled out in the US in 2011, DataSift enables companies to aggregate and filter insights from billions of social media conversations, giving access to both real-time and historical social media data.

New funding has been led by Insight Venture Partners, with participation from existing investors Scale Venture Partners, Upfront Ventures, IA Ventures, Northgate Capital, Daher Capital and Cendana Capital. To date, the firm has raised more than $70m.

CEO Rob Bailey (pictured) comments: 'Social media is generating billions of conversations every day and that data is fundamentally transforming the way companies communicate and make strategic decisions. Social media has now moved from mainstream to mission critical for enterprises and we are excited to power the applications in the social ecosystem and accelerate social data adoption.'

Web site: www.datasift.com .

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