The social web is an ever-expanding place, a frontier that is at once exciting and daunting. For businesses and brands, there is a plethora of data to be reaped from this space, but the challenge is making sense of it all. Local analytics marketing company Networked Insights provides solutions for exploring and categorizing individuals who take part in the social web. Since early 2006, the company has been building and improving on technology and technology-enabled services that give its clients the power to make sense of the social web.
This week, Networked Insights raised a $9.4 million Series C from Goldman Sachs and other institutional and individual investors. According to CFO Josh Damon, this injection of capital will be focused on Networked Insights’ technology by boosting existing data and analytics capabilities and giving more potential clients access to its marketing decisions platform.
“The funding provides us the flexibility to significantly invest in our technology platform to provide marketers greater tools to make more informed marketing decisions,” Damon says. “We are will continue to innovate to deliver on our vision of empowering CMOs and leading brands across CPG, consumer electronics, food and beverage, and more.” Some of Networked Insights’ notable customers include Samsung, GE and P&G.
Networked Insights also recently introduced technology that gives brands access to a real-time consumer interest graphs. By analyzing more than 100 million data points across 22,000 dimensions daily, Networked Insights’ platform can support social web analysis and segmentation down to factors as minute as consumer age range, location, gender, psychographics, life stage, interests, preferences and more.
On the heels of this introduction and following this funding round, Damon expects to maintain what he describes as an existing “significant” hiring pace. Today, Networked Insights’ offices in Chicago, New York, Madison and Los Angeles house more than 150 employees — a number that Damon says is sure to grow.
Even with offices across the country, Damon says Networked Insights’ roots in Chicago have helped propel the company to where it stands today. “We are proud to be a part of the venture community here in Chicago and are committed to continued investment in the advancement of technology in the Midwest,” Damon says. Having grown up in an atmosphere that encourages hard work and collaboration, the Networked Insights team today continues to draw on those values in its everyday work.
With a significant funding deal recently closed and the prospect of bolstering his team within sight, I asked Damon what he hopes to achieve in the next six months. His response: “Add new clients, advance our technology, and have fun while doing it.”