Insightpool has secured the future of its audience cultivation and conversion platform for social media by capturing $4 million in a Series A funding round.
Hiring more staff for Insightpool’s data and sales teams is earmarked as a priority now the company is flush with cash, but it also wants to develop version two of the platform, create a mobile app and grow its offices in Los Angeles, San Francisco and New York.
TDF Ventures and Silicon Valley Bank were the two largest contributors, but they did have help from the likes of Peter Kight, Chris Walters and a number of other angel investors.
Measuring value in media
While not going as far as labelling predictive analytics, social and interest graphs, and basic influencer identification ‘old hat’, Insightpools’ CEO Devon Wijesinghe does think they have a negligible contribution in weighing up value.
“Identifying influencers is only part of the equation for organizations trying to find measurable business value in digital media,” Wijesinghe said. “Insightpool focuses on how likely someone is to take action when a brand proactively engages them on a topic.
“Our proprietary analytics engine targets the real, yet often inconspicuous people who are most likely to interact with a brand and ultimately have the biggest network effect on actual conversions according to campaign goals.”
Accompanying the investment will be former chief operations officer of Social@Ogilvy and vice president of worldwide digital marketing at Warner Brothers Tom Deluca, who joins the Insightpool team as president of media and consumer markets.