Insightpool Raises $4m for Expansion

Insightpool, which helps organizations mine social media networks to find their top influencers, prospects or customers, has raised $4m in a Series A round of funding. The firm has also announced plans to expand its Atlanta headquarters and hire a further 75 staff.

Insightpool's platform analyzes 350 million people against 60 variables across Facebook, Twitter, LinkedIn and off-line sources such as the US Census Bureau, in order to classify an audience into different categories and make relevant recommendations. CEO Devon Wijesinghe (pictured) explains: 'Our proprietary analytics engine targets the real, yet often inconspicuous people who are most likely to interact with a brand and ultimately have the biggest network effect on actual conversions according to campaign goals.'

New funding was led by TDF Ventures and Silicon Valley Bank, with participation from Peter Kight, Chris Walters and other angel investors, and adds to the initial $500,000 the firm received in seed funding. It will be used to increase Insightpool's data science and sales teams, develop additional features for the platform, build a mobile app, and expand operations to Los Angeles, San Francisco, and New York, while increasing the size of its Atlanta HQ.

In addition the firm has announced that Tom Deluca is joining in Los Angeles as President of Media and Consumer Markets. Most recently, he served as President of mobile gifting platform ItzOnMe, prior to which he was COO at Social[at]Ogilvy, and VP of Worldwide Digital Marketing at Warner Brothers.

Web site: www.insightpool.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.