Viralheat raises $4.25 Million in Series A Funding
The company plans to use the fund to expand its engineering team, create new products andn services for consumer analytics and engagement, and accelerate customer acquisition and revenue growth. Co-Founded by Raj Kadam and Vishal Sankhla in 2009, the company features deep social media trends, sentiment, influencer data, analytics and intelligence. They recently launched a new product, 'Human Intent', which is designed to give businesses the ability to identify in real-time individuals that are near to purchase online into private beta. As part of this, they integrates with Salesforce, using OAuth 2.0 to exports the leads into their sale organization's pipeline, as well as ease of export and simple employee training.
Currently serving over 1,300 customers including brands, agencies, marketers and content producers, their main distinguisher is their affordability. For $10 per month, users can track 10 profiles on the site and for $40 they can track 50 profiles. This positions them to stand strongly against their competitors, such as Radian6, Visible Measures, Omgili, ScoutLabs and Omniture to name some.
They swank about the coverage of Twitter, Google Buzz, Facebook Fan pages, YouTube, Hulu, Vimeo, blogs and more, in addition to enterprise grade features like dynamic alerting, geo-location to restrict the profiles by location and an API to embed social media intelligence into applications.
Raj Kadam, Co-Founder and CEO, Viralheat, said, "Social media monitoring and so-called listening as we know it is commoditized and does not provide the insights that today's businesses seek. The next frontier of this market is future-tense intelligence and analytics that tell you what is going to happen, not merely what has happened."
Prior to the formation of Viralheat, Raj served as a software engineer in Aruba Networks. Earlier to this, he worked as a software engineer in Network Chemistry. Before this, he worked as Technical Assistance in UCSB, Alexandria, Imaging Laboratory. He is a B.S. in Computer Science from University of California, Santa Barbara.
Rajeev Batra, Mayfield Partner, said, "Predictive and actionable analytics arrived through a combination of sentiment, influence and intent analysis, which are the key to leverage social media for enterprises of all sizes. We strongly believe that the next great analytics company will focus on future-looking intelligence and we are thrilled to be partnering with the Viralheat team to bring these technologies to market more widely."
With 42 years of history, Mayfield has invested in more than 500 companies resulting in over 100 IPOs and more than 100 mergers or acquisitions. They invest in relationships with entrepreneurs, institutions and the community to transform bold ideas into industry-leading companies. They have $2.7 billion in corpus and invests primarily in early stage U.S. companies in the Enterprise, Consumer, Energytech, Semiconductor and Telecom sectors. They also invest in India-based companies through their Mayfield India Fund and in China-based companies with its partner GSR Ventures.
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