Parse.ly has raised another $5 million in funding, the content optimization start-up is expected to announce on Monday.
Led by Grotech Ventures, along with Blumberg Capital, ff Venture Capital and FundersClub, Parse.ly plans to use the cash to expand its sales, marketing and engineering efforts.
“This round will enable us to hire more talent, invest further in our core technology (which was built from the ground up) and support customers," Sachin Kamdar, co-founder and CEO of Parse.ly, told Online Media Daily on Friday.
According to Kamdar, Parse.ly’s technology can go beyond traditional digital media analytics to extract and analyze semantic data, visualize it “historically” and in real-time.
Publisher clients use the subscription-based dashboard to monitor audiences and their on-site behavior.
Kamdar said Parse.ly has really hits it stride over the past year.
"Working with the media industry, in the beginning, was a challenge because of the state [of] change that online publishing has brought about with no measurement standards and evolving business models,” he said. “Over the last year and a half, we've built a solid business working with media companies to better understand what their problems are.”
The Parse.ly Network presently tracks roughly 5 billion hits per month and consists of 160 million unique visitors, by Kamdar’s estimate.
Going forward, Kamdar said: “Our plan is to continue to give them more granular information that is easy to understand, giving [publishers] more insight into readers' behavior.”