Curalate Secures $8.6 Million in Series B Funding Led by NEA
Visual Analytics Leader Provides Insights to More than 400 Brands including Under Armour, Neiman Marcus and Design Within Reach
PHILADELPHIA, June 9, 2014-- Curalate, the leading visual analytics and marketing platform, has secured $8.6 million in Series B financing, bringing its total funding to $12.5 million. NEA led the round with participation from First Round Capital, MentorTech Ventures and Vayner RSE, Gary Vaynerchuck’s new $25 million fund.
Vaynerchuck will serve as a strategic advisor to the company, providing deeper insights to the mind of social media marketers and Harry Weller, General Partner, NEA, joins the Curalate board of directors. The new funds will be used by Curalate to accelerate hiring, marketing and product development.
“A presence on image-based social platforms is now an imperative for marketers, as more and more consumers are communicating with images rather than words,” said Harry Weller, General Partner, NEA. “Based on its unique image-processing technology and deep relationships with key players like Pinterest, Instagram and Tumblr, Curalate is well-positioned to maintain and extend its market leadership.”
Curalate’s comprehensive platform enables 400 of the world’s leading brands to use visual analytics to identify trends, track visual conversations and engage consumers using Pinterest, Instagram, Facebook and Tumblr.
“More and more brands are investing in visual platforms because it is where their customers are predominantly consuming and sharing information,” said Apu Gupta, CEO of Curalate. “Our ability to arm brands with data around what resonates has totally changed the retail landscape. This fresh capital will ensure more and more companies are able to cultivate meaningful relationships with consumers and increase sales by more effectively listening, even when consumers aren’t using words.”
Curalate recently announced its status as the only visual analytics platform selected for the Tumblr A-List, a handpicked group of premiere advertising, media and creative agencies, technology providers and theme developers that enable brands to have the best Tumblr experience possible. The company was also selected to join the alpha of Pinterest’s MarTech initiative, which gives it access to the Pinterest Business Insights API.
Curalate is a comprehensive platform for marketing with images. Hundreds of the world’s leading brands, including Gap, Neiman Marcus, Campbell’s, Swarovski, Under Armour, Better Homes & Gardens, and Michaels, rely on Curalate’s advanced image-analytics algorithms and robust marketing tools to understand visual conversations, increase fan engagement, and grow revenue across Pinterest, Instagram, Tumblr and Facebook. For more information please visit: http://www.curalate.com.
Jennefer Traeger, 720-988-6149
Venture Capital Database