Marketing Company Influitive has recently closed its Series A funding round after having acquired an investment of $7.3 million. What the company does is to analyze influencer networks, data around social media and other peer to peer techniques in order to get the information spread. For this it offers brands a kind of framework to use the right techniques in getting themselves advertised.
The recent investments received will be used by the company in developing its marketing platform ie AdvocateHub, along with the company’s marketing and sales team. The investors in this funding round include Relay Ventures, Hummer Winblad. Other backers in the investment include firms like New Enterprise Ventures, Lightspeed Ventures, Illuminate Ventures, Common Angels and Resolute.VC.
With the recent investment of $ 7.3 million made, the company now has a total of $11.05 million. What actually caught the eyes of these venture capitalists was the way the company kept growing.
“We are seeing companies increasingly dependent on peer referencing for acquiring customers, and believe that Influitive’s advocate-centered, self-service approach is going to win out in a new multi-billion dollar Advocate Marketing space that is forming,” Relay Ventures Principal Alex Baker declares, as reported by Techcrunch.com.
“Influitive is exemplary of the kind of company in which Hummer Winblad looks to invest: at the forefront of an exciting market opportunity, management with a proven track record, and momentum that underscores and validates its market approach,” says managing director at Hummer Winblad Lars Leckie.
The company will soon have its platform integrated with social networks like Quora, Linkedin , Twitter and Facebook. Crossover has already been found today like the company being able to track the completion of these social network’s activities and reward them accordingly.
Two more members will be added to the company’s board. These include Alex Baker from Relay Ventures and Lars Leckie from Hummer Winblad.