Simply Measured Raises $20 Million to Expand Social Media Analytics and Reporting Solution
Trinity Ventures Leads Series C Round of Funding for Leading Social Analytics Company
SEATTLE, Wash., March 18, 2014-- Simply Measured, the leading social media analytics and measurement solution, today announced a $20 million Series C round of funding led by Trinity Ventures with participation from Bessemer Venture Partners, Four Rivers Group, MHS Capital and other existing investors. Karan Mehandru, General Partner at Trinity Ventures, will join the Board of Directors at Simply Measured. The investment will allow the company to continue their steep growth trajectory and enable ongoing product expansion.
As the role of social media in the marketing organization increases and expands, so does the need to accurately measure the performance of social activities. While social listening tools have provided businesses with a way to view conversations from a high level, sophisticated marketers need better tools to more accurately measure the performance of their campaigns and distill actionable information from the data.
Simply Measured provides enterprise-level insights from the leading social media networks including Facebook, Twitter, Instagram, LinkedIn, YouTube, Google+, Tumblr and Vine compiled into visual dashboards that can be shared easily across the organization. With over 40 unique customizable reports available, Simply Measured makes it simple to measure, analyze and share information. Used by over 35 percent of the Interbrand 100, Simply Measured serves a wide variety of brands including Kia Motors, Pepsi, American Express, Billboard, Samsung, Chipotle and the Super Bowl Champion Seattle Seahawks.
"Simply Measured is setting a new standard in the social media measurement space by empowering marketers to visualize all of their social data in one place and analyze the effectiveness of their social campaigns," said Karan Mehandru, General Partner at Trinity Ventures. "We see reporting and analytics as a 'must have' component of social media marketing and, in turn, for the broader marketing function. There is tremendous opportunity for further growth and we look forward to working with the Simply Measured team to help marketers leverage their social media strategy in practical and meaningful ways to improve customer acquisition, engagement, retention and support." For more insights from Karan, please see his blog post regarding the addition of Simply Measured to his portfolio.
Over the last year, Simply Measured has more than doubled both revenue and customers, and has reported a nearly 5x increase in paid users, a validation of the accelerating investment in social media as brands enter the next phase of digital marketing maturity. The company has expanded their employee base to 115 full time employees and plans on doubling during the course of 2014.
"This round of funding validates Simply Measured's leadership position in the market and enables us to invest in our product and team for the long term," said Adam Schoenfeld, CEO and co-founder of Simply Measured. "We'll use this capital to scale our best-of-breed measurement and reporting solution, giving marketers more insights in less time."
In October of 2012 Simply Measured raised an $8M Series B round from Bessemer Venture Partners. Previously the company had raised $900K from MHS Capital and leading angel investors. This investment represents their Series C round and brings their venture capital total to $28.9M.
Simply Measured is the leading social media measurement solution for sophisticated brands, large enterprises and companies aspiring to become one. It is available in Social, Professional and Enterprise pricing structures. For more information about pricing or for a free 14-day trial, please visit http://www.simplymeasured.com/pricing. To learn more about Simply Measured's social media analytics platform, visit http://www.simplymeasured.com or read more on the Simply Measured blog.
About Simply Measured
Simply Measured is the leading social media analytics and measurement platform used by brands across the globe to quantify performance, determine impact and derive strategic direction from social media data. With more than 40 unique reports sourced from the top social platforms including Facebook, Twitter, Instagram, LinkedIn, Tumblr, Google+, YouTube and Vine, Simply Measured turns social media data into beautiful, customizable reports that are easily analyzed and shared. Based in Seattle, Washington, Simply Measured supports more than 35 percent of the Interbrand 100 and has more than 100,000 users. Learn more at http://simplymeasured.com.
About Trinity Ventures
Trinity Ventures is a toptier venture capital firm combining business insight, practical expertise and a personal touch to help startups win big. For over eleven funds, Trinity has helped passionate entrepreneurs with breakthrough ideas transform markets and lives. Trinity's investment team takes a collaborative approach and believes in personal engagement, mutual respect and goal alignment to deliver outsized returns to entrepreneurs and investors. The firm invests in early stage technology companies with emphases on Cloud, Digital Media, Social Commerce and Entertainment, and Software as a Service. Learn more at www.trinityventures.com.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in earlystage, hypergrowth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Mumbai, Bangalore, Herzliya and Sao Paolo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, CornerstoneOnDemand, Pinterest, Box and Twilio. Over 100 BVP companies have gone public. Learn more at bvp.com and follow us on Twitter @BessemerVP.
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