BackType Raises $1m for Social Media Analytics Platform

In the US, San Francisco-based marketing intelligence company BackType has closed a $1m round of funding, which it will use to grow its team and launch a new paid social data analytics product later in the year.

BackType has developed an analytics dashboard for data from tweets, blogs, comments and sites such as Facebook, currently in private beta, and aimed at helping organizations understand the business impact of social media.

According to an interview conducted with online publication Techcrunch, BackType co-founder and CEO Christopher Golda (pictured) said that by using a high tech stream processing system, the company had been able to build and release influencer profiles for every active Twitter user in under 24 hours.

The firm's latest round of funding has been led by True Ventures with support from a number of Silicon Valley-based investors, and builds on the $315k the firm raised in 2008 and 2009.

Web site: www.backtype.com .