Sway Secures $2m to Grow Shoutlet

In the US, social media tracking firm Sway has secured a $2m Series A funding round, which it will use to hire additional support staff and scale the sales and marketing efforts for its Shoutlet social media platform.

Sway offers marketing research and campaign management services to companies using social media. Its Shoutlet platform provides users with a tool for online video distribution, Facebook and Twitter management, and branded social sharing. Clients use Shoutlet to develop, deploy and track their social media and measure the success of their campaigns.

'Recent studies have shown that about 85% of companies are planning to increase spending on social media efforts in 2010,' stated Sway CEO Jason Weaver. 'This funding allows us to forge ahead to accomplish our goals and help even more brands effectively manage social media.'

This round of financing was co-led by Origin Ventures and Leo Capital Holdings, and follows a $1.2m seed round raised in 2007.

Web sites: www.swayonline.com and www.shoutlet.com .