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BuzzLogic Raises $7.8m
In San Francisco, digital media and brand metrics company Buzzlogic has secured $7.8m in third round investments. The money is earmarked for expansion plans which include acquisitions, increasing its product offering and doubling the sales force.
The company has now raised $28 million, including the latest round which comes from Bridgescale Partners, investor Bob Colman, Adams Capital Management and other previous backers.
Dave Hills, CEO for the last six months, wants the company to be known for more than social media monitoring, and aims to convince publishers and advertisers that a 'horizontal' approach to online marketing, as opposed to a vertical one is the best way to go.
Hills said: 'We don't just look for key phrases, but we analyze the meaning of what's being talked about. Even though we value the horizontal approach, we're not an ad network. From a publisher's perspective, there's no channel conflict because we're not going around them. And while I don't have anything against the behavior targeting business, we don't drop cookies on to sites and we don't scrape data from publishers. We provide understanding of the influential places of context and discussion and use beacons to provide a brand advertiser to get a message across.'
Hills also said that the company was currently growing faster than 50% per quarter, with headcount rising from 42 to 54 since the beginning of the year.
Web site: www.buzzlogic.com .
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