GraphDive Raises $1m for Social Analytics Platform

US-based social analytics specialist GraphDive has raised more than $1m in venture capital, which it plans to use to develop its ad targeting software for the e-commerce, media, and travel sectors.

Founded last year by Shahram Seyedin-Noor and Sina Sohangir, the Menlo Park-based firm's flagship product Social API uses semantic analysis and machine learning to help organizations interpret their social data.

This technology instantly integrates social data from sources such as Facebook, Google+ and Twitter to provide organizations with insights into users' habits and demographics, and then target these users with relevant offers and recommendations.

The firm has now raised capital from Correlation Ventures, Crosslink Capital, and several angel investors including dropbox investor Pejman Nozad. Funds will also be used to expand the team and infrastructure to meet the needs of a larger number of clients.

Seyedin-Noor (pictured), comments: 'The explosive growth of social data, combined with the adoption of Facebook Connect, presents an amazing opportunity for businesses to serve their customers using our Social API, where big data analytics meets social for the enterprise.'

Web site: www.graphdive.com .