SAN FRANCISCO--(BUSINESS WIRE)--BuzzLogic, an online media company that improves brand metrics and ROI through its scalable media index and analytics platform, has closed a $7.8 million round of Series C Funding. The funds will be used to enhance the technology platform key to the company's success; introduce new advertising products for today's social and conversational web, and to double its sales and account management team.
Bridgescale Partners anchored the new round with existing investors Adams Capital Management and others. Bob Colman, a veteran of investment banking, supplemented the round, and the company also secured debt financing from Bridge Bank.
With revenue growing faster than 50 percent per quarter, the investment will serve to support BuzzLogic's shift in business strategy and new product development to fuel the company’s rapid growth.
"BuzzLogic is a very different company than it was two years ago and growing revenues greater than 50 percent a quarter proves that," said Dave Hills, CEO of BuzzLogic. "Before we were helping brands understand what consumers were saying, now we're helping brands engage with the consumers by activating media for them. Before we were listening. Now we're listening and engaging at huge scale. The current round of funding shows confidence in our new business model and takes us to profitability."
“The social Web has created an enormous market opportunity for brand marketers and the companies that serve them,” said David Walrod, venture partner at Bridgescale Partners. “Our investment in BuzzLogic is in recognition of the company’s leadership in this space and its ability to effectively capture this opportunity. Based on its seasoned team and strong vision, we are confident BuzzLogic will continue its track record of success.”
BuzzLogic originated as a social media monitoring service and later shifted into a blog ad network. Recently, the company evolved even further and today is the only company providing brand metric improvement and ROI in one system for large national brands looking to reach and engage consumers online at scale.
BuzzLogic's rapid growth and appeal to investors is due to the fact that not only does BuzzLogic understand social media, it activates against what's being said—all without any user targeting and cookies.
For example, one consumer packaged goods company wanted to be associated with healthy snacks after school. BuzzLogic created a query in its system that identified hundreds of URLs to target. Then, the company ran ads on the forums, blogs, websites, and any place a conversation was occurring about healthy snacks. By the end of the month-long ad run, the company's brand association with healthy snacks rose from 12 to 28 percent, delivering a robust ROI. The brand has renewed with BuzzLogic and increased its spending fourfold.
By placing relevant ads designed to motivate engagement with consumers on sites targeted by BuzzLogic, national brands are developing relationships with consumers and achieving impressive engagement metrics, an ability that social media monitoring companies lack because they don’t have the combination of understanding, media activation and scale. Advertisers can even syndicate their Twitter or Facebook content within the ad itself through the BuzzRoll ad unit the company creates, ensuring there's extensive engagement with the brand's social content. These unique features, highly appealing to brands, help account for BuzzLogic's fast growth.
To date, BuzzLogic’s funding totals $28 million.
About BuzzLogic
Formerly known as an online monitoring company, BuzzLogic has undergone a complete transformation to now provide advertisers and agencies an all-in-one, social and conversational media solution with targeting, optimizing and reporting at huge scale. Its technology has indexed and ranked more than 1.5 billion pieces of distinct content and utilizes analytics to not only recognize topic, but also the conversational media around it, hence identifying the most persuasive opportunities for advertisers. Utilizing this data, BuzzLogic creates customized digital media packages, and generates robust reporting to measure ROI. BuzzLogic’s clientele includes Proctor & Gamble, Toyota, Best Buy, PlayStation, Microsoft, and Starbucks.
BuzzLogic is headquartered in San Francisco with offices in New York, Chicago and Los Angeles. For more information, visit: http://www.buzzlogic.com, Facebook.com/BuzzLogic or follow at Twitter.com/BuzzLogic.
About Bridgescale Partners
Bridgescale Partners provide expansion capital to US and Canadian later-stage technology companies. The investment team has more than 50+ years of venture capital experience investing in early- and later-stage technology companies. Overall, Bridgescale has invested in more than 100 technology companies in software, security, digital media, Internet and communication markets.