Networked Insights
Deal: $30 million
Investors: The round was led by Sands Light Capital and Cherng Family Trust, with participation from Goldman Sachs, American Family Ventures, 4490 Ventures, and Kegonsa Seed Fund.
What they do: Networked Insights, an analytics company that uses big data to help businesses target the right customers online, raised a $30 million funding round. Its technology uncovers real audience interests by combing through social media and other online data to help brands find likely customers. By using artificial intelligence to analyze more than 500 million social media posts per day, Networked Insights helps brands like MTV, Samsung, Kraft, Under Armour and others find new consumer audiences and create content that resonates with them.
In 2015, Networked Insights landed a deal with media buyer GroupM, which purchases nearly $100 billion in ads a year for companies such as Unilever and AT&T.
“10 years ago, we started a journey by training machines to start answering questions that were impossible to answer via any other method," CEO Dan Neely said in a statement. "From there the intelligence has evolved into a single system for understanding what’s relevant to a person’s life – from predicting what movies they like, to who they might vote for, to which spokesperson might resonate with them. This investment will help us take another leap forward with that intelligence, allowing us to bring several powerful new AI products to market this year."
Other details: The latest round brings Networked Insights' total funding to around $80 million since it launched in 2006. Goldman Sachs has been a frequent investor, and it led the company's $20 million Series B in 2011. Today's funding also includes Sands Light Capital, the Arizona Iced Tea co-founder's office, and Cherng Family Trust, the office for the Panda Express co-founders, according to Crain's.
Networked Insights has offices in Chicago, New York, and Madison, WI.
Image via Networked Insights
