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Funds Boost Cymfony Into 'Blogosphere'
US agency Cymfony has secured $7 million venture capital to expand its business intelligence products. In particular, it hopes to focus on tracking brands and businesses across 'consumer-created' online media such as blogs and message boards.
Cymfony's products already measure and analyse reputations across a range which includes blogs, message boards and online user groups as well as more traditional media. CEO Andrew Bernstein explained that the company will use the new funds to expand offerings 'driven by the explosive growth of consumer-generated media, viral marketing and word-of-mouth marketing'.
The company has selected Boston-based Ascent Venture Partners to lead the venture capital round. Existing investors Trident Capital and Hearst Interactive also participated. 'We believe there is a significant opportunity for Cymfony to provide corporations with customized yet easy-to-use solutions that address critical business issues, such as the influence of the blogosphere and the need to measure marketing ROI,' said Chris Lynch, Partner at Ascent, who will be joining Cymfony's Board of Directors.
The company's home page is at www.cymfony.com
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