• by Laurie Sullivan  @lauriesullivan, October 3, 2011

In a move typically reserved for companies proving long-term growth potential based on technology, social media agency Banyan Branch gets financial backing from well-known private angel investors. The $1.7 million announced Monday supports the company's growth in vertical markets-technology, customer service, retail and pharmaceutical.

Geoff Entress, a serial entrepreneur and angel investor who is participating in this private Series A funding round, will take a seat on the board. "This isn't your typical agency -- they're heavy in technology," he said, later acknowledging an unusual venture investment as well. "As an angel investor, it's important to diversify."

The investors also have a focus in technology. Aside from a private fund from Entress, a partner at Voyager Capital Venture Partners, the investment comes from Huntsman Gay Global Capital co-founder Bob Gay, Draper Fisher Jurvetson Venture Partner Bill Bryant and KISSmetrics Founder Neil Patel, among others.

Seattle, Wash.-based Banyan manages social media campaigns for Disney, Porsche, Fox, Microsoft, Paramount, Hartz, Univision and Gilt Groupe.

Entress invested in Banyan based on the technology and "quality" of the management team. The company's co-founder Dave Hanley helped establish Shelfari as a social book sharing site sold to Amazon in 2008. Alex Garcia, chief creative director and co-founder, helped develop the Web strategy for Hillary Clinton's presidential campaign. Blake Cahill, president, held a CMO positions at Visible Technologies.

Securing funding is not easy; companies must prove viable growth potential based on proprietary technology. For Baynan, the company secured funding through its proprietary social technologies and social methods that created demand for its services. It claims 100% revenue growth during the past year.

The Series A investment round raises the question: Will social media agencies become the next arena to issue IPOs?