Social media analytics company Socialbakers has closed a $2 million (£1.3 million) financing round led by Earlybird Venture Capital as the company pursues further growth across Europe and the United States.
Social media analytics company Socialbakers has closed a $2 million (£1.3 million) financing round led by Earlybird Venture Capital as the company pursues further growth across Europe and the United States.
The funding will enable Socialbakers to put in place ‘aggressive growth plans’, which include increasing the number of marketing products and services the company offers, and pursuing more clients for its social media monitoring services.
As part of the investment, Jason Whitmire, general partner at Earlybird, and investor Martin Huml of Runway Capital will join the board of directors.
Socialbakers provides software-as-a-service that aims to build, measure, and manage a client’s social media presence, and monitor that of their competition. The company now counts 30 major multinationals as clients, including Lufthansa, L’Oréal, Danone, Vodafone, Samsung, GE Money, Ogilvy and Kraft.
Socialbakers chief executive Jan Rezab co-founded the company in his hometown of Prague, Czech Republic, in 2009. He now travels between Prague and company bases in London and San Francisco, United States.
Rezab comments, ‘Socialbakers has experienced providential growth in the last year, reached profitability every quarter since our launch, hired 55 professionals and we are still growing strongly. The funding from Earlybird enables us to accelerate the business growth of our software-as-a-service (SaaS) based social media platform and further strengthens our position in the most important global markets.’
The company’s products can provide statistical analysis of social network Facebook including pages, and places, applications and developers, as well as advertising prices, with results appearing in real-time. Services for LinkedIn, Twitter and Google+ are also available.
The new investment follows a strong growth period and expansion for Socialbakers, which includes the doubling of the company’s revenue and the increase of employee headcount from 10 in 2009 to 55 this year.
Earlybird Venture Capital currently manages €430 million in assets from their three German and one Italian offices.
