$1m for Social Media Analyst NextPrinciples

US firm NextPrinciples has received $1m in seed funding, which it will use to accelerate the roll-out of its Insight-to-Action platform, which aggregates and analyzes data from multiple social media channels.

The SaaS platform can be used on any device to monitor, manage and act on social media interactions and conversations, sharing raw data and analysis of trends, conversations and activities.

Funding has been led by a group of execs and investors in the enterprise technology sector including Alex Ott, founder of CrossContinental Ventures; Paul Wahl, currently CEO of Causata; and Les Hayman, former extended Board member of SAP.

As well as fuelling the software roll-out, the funds will be used to expand NextPrinciples' engineering, marketing and sales teams.

CEO and co-founder Satya Krishnaswamy comments: 'This funding accelerates the growth of our product offering and the reach of our sales, marketing and business development efforts. We look forward to working with the investment team and benefiting from their collective domain knowledge and expertise.'

Web site: www.nextprinciples.com .