Social media analytics and
measurement start-up Simply Measured has taken another $20 million from investors, led by Trinity Ventures.
Simply Measured helps brands measure consumer conversations across various
social channels, including Facebook, Twitter, Instagram, LinkedIn, YouTube, Google+, Tumblr and Vine. Collected data is compiled into dashboards, which can be shared internally by clients.
Over the last year, the company claims to have more than doubled revenue and its client list, while recording a nearly 500% increase in paid users. Clients include Kia Motors, Pepsi,
American Express, Billboard, Samsung, Chipotle and the Seattle Seahawks.
With the new funding, Simply Measured plans to double its current workforce of 115 full-time staffers before
the end of the year.
Per this latest raise, Karan Mehandru, general partner at Trinity Ventures, is also joining the Board of Directors at Simply Measured. “There is tremendous
opportunity for further growth,” Mehandru said of the social measurement space.
Last year, social media advertising spending was expected to reach $4.6 billion -- up 35% from
$3.4 billion in 2012, according to a recent estimate from ZenithOptimedia.
This year, advertisers are expected to pump nearly $12 billion into social networks around the world,
according to eMarketer. That’s 25% more than marketers spent on social last year, by the research firm’s measure.
Additional investors include Bessemer Venture Partners,
Four Rivers Group, MHS Capital.