Visible Technologies, the Bellevue company which provides social media monitoring technologies to Boost Mobile, DirecTV, Vail Resorts and others, has scored an additional $4 million in venture capital financing from existing investors. That brings total financing in the company to nearly $50 million, following a $6 million round in March.
As I pointed out in an earlier post, Visible hit tough times last year with a CEO departure, layoffs and a massive product overhaul. But the company — backed by Ignition Partners, Investor Growth Capital and others – claims to be on the rebound.
With former Intelligent Results CEO Kelly Pennock now at the helm, Visible says that sales jumped 71 percent during the first half of the year. The company also has added some marquee customers to the mix, including Walgreens and Y&R.
“As the enterprise moves from passive social listening to active social engagement, we are extending our platform to provide a single solution to monitor, target, prioritize, engage and measure across the breadth of social media,” said Pennock. “This strategic investment reaffirms existing investors’ commitment to our success.”
There’s certainly no shortage of competition in the social media monitoring and analytics space, an arena that has seen some consolidation in recent months with Radian6 gobbled up by Salesforce.com for $326 million.