DataSift Raises $7.2m and Moves Office

Social media monitoring and analytics firm DataSift has secured $7.2m in a follow-on Series A round of funding from existing investors, which it plans to use to accelerate growth. Separately, the firm has moved into a new office in San Francisco's SOMA district.

Launched in the UK in 2008 and rolled out in the US last November, DataSift's social data platform aggregates, filters and extracts insights from conversations on social media, YouTube, blogs, forums and online message boards. The platform then evaluates each social interaction by applying natural language processing to convert unstructured data into information ready for analysis.

Commenting on the new funding led by GRP Partners and IA Ventures, DataSift CEO Rob Bailey said: 'While we were not actively looking for financing, we were lucky to receive a fantastic offer from our existing investors that will enable us to continue building our business without the distraction of raising a funding round. GRP and IA Ventures have been instrumental in helping us achieve the success we've had so far and we are excited to continue working with them.'

Web site: www.datasift.com .