NetBase, the Enterprise Social Intelligence (ESI) company, today announced it has raised $9 million in funding, completing the Series C financing round announced in June 2012. New investor West Summit Capital led the round and was joined by existing investor Thomvest Ventures. The closing brings the total Series C expansion round to $23 million and provides NetBase with the capital needed to expand its sales and services globally.
“Social intelligence adoption across the enterprise has become a business imperative,” said Peter Caswell, CEO of NetBase. “Critical decisions are being made from social data, making accuracy the most important factor when selecting a solution. NetBase is the most accurate and trusted technology in the market, and now as we support 46 languages, we are positioned to help global enterprises make fast and informed decisions.”
NetBase has had a long term partnership with Thomvest Ventures and Altos Ventures. The company also has technology and reseller relationships with SAP AG , J.D. Power & Associates and GfK. NetBase has developed a rich and sophisticated Natural Language Processing (NPL) based, social analytics platform described by Marshall Sponder, social media analyst and author as “…the best platform I know to get at the root of customer mindsets.” New investor West Summit Capital also believes social intelligence is critical to understanding the consumer and will continue to see huge market adoption.
“NetBase’s market leading solutions enable global brands and agencies to innovate in marketing, product development and client service more quickly and effectively by understanding online consumer sentiment and opinions in real-time,” said John Yu, Managing Director, West Summit Capital. “The investment in NetBase fits with our investment strategy to accelerate growth in companies that have significant market leadership and technology barriers to entry.”
NetBase delivers the enterprise social intelligence platform that global enterprises use to monitor, understand, and engage with customers in real time. Using a high-precision natural language processing (NLP) engine, our platform processes billions of social media posts to extract structured insights delivered via customizable dashboards. Our solutions enable digital marketing, public relations, market research, customer service, sales, and product innovation leaders to craft winning strategies faster. Clients include Coca-Cola, Kraft, HP GfK and J. D. Power & Associates. NetBase powers the weekly Sentiment Tracker in the Wall Street Journal and our solutions are sold globally by SAP AG. For more information, visit www.netbase.com, @NetBase, on Facebook page, LinkedIn, or YouTube.