Collective Intellect, a Boulder, Colo.-based provider of social media analytics, has raised $6.6 million in Series B funding. Grotech Capital Group led the round, and was joined by Crawley Hatfield Capital and return backers Appian Ventures and Croghan Investments.
Collective Intellect (www.collectiveintellect.com), the leading social media analytics company helping businesses track, understand and use social media, today closed its second round of institutional funding by raising $6.6 million from venture capital firms led by Grotech Capital Group and including existing investors Appian Ventures and Croghan Investments and new investor Crawley Hatfield Capital, LP.
Proceeds from the investment will be used to dramatically expand Collective Intellect's marketing and sales initiatives, leading to expanded distribution of its monitoring services and analytics-based content, as well as broader application of the company's insights in social media campaigns. This round of funding follows the $2.6 million infusion that Collective Intellect received in February 2006 which was led by Appian Ventures and included other accredited investors in
“Social media is now a mainstream phenomenon impacting the bottom line of every business,” said Don Springer, Founder and Chief Executive Officer for Collective Intellect. “This investment validates our success in providing these businesses with real-time intelligence on social media, empowering them with the actionable insight to create relationships, optimize campaigns, and invite closer one-on-one participation. We now have the resources to become the standard in how companies measure the impact of social media.”
Collective Intellect specializes in comprehensively tracking, filtering, ranking, and analyzing social media content for a wide array of businesses. The company refined its approach by helping financial services clients with more than $100 billion in assets utilize social media to make smart business-building decisions. Across blogs, discussion boards and social networking websites, Collective Intellect employs advanced artificial intelligence algorithms to identify and analyze social media.
“Collective Intellect's management team has a strong record of generating substantial returns to its investors,” said Joseph Zell, General Partner at Grotech. “Collective Intellect enables marketers and communicators to engage in the single largest trend shaping consumer behavior today through data-driven decisions. Their instantaneous data allows social media to be actionable as well as informational. We are confident that Collective Intellect is poised to achieve even greater success.”
About Collective Intellect
Collective Intellect is a social media analytics company that helps businesses track, understand, and use social media. By utilizing artificial intelligence to sift through online media in real time, Collective Intellect accurately identifies social media participants and communities with knowledge and influence, filters and ranks information capabilities delivering the best content on any topic, and provides key conversation analysis critical in developing and measuring the success rates of sales and marketing programs. Founded in 2005, Collective Intellect is based in