Social media monitoring firm Visible Technologies has raised an additional $5.5 million, bringing total funding in the company to $57.5 million. Existing investors, including WPP, Ignition Capital and Investor Growth Capital, participated in the round. The funding came in conjunction with the acquisition of Cymfony, a Kantar Media company that Visible purchased in April for about $18 million.

As a result of that deal, Cymfony president Richard Pasewark assumed the CEO role of the combined company, which operates under the Visible name and is headquartered in Seattle. Some of the new funds will be used for sales and marketing efforts tied to the integration of the two companies’ offerings, products that help corporations easily monitor what’s being said about them on Twitter, Facebook and other social media channels.

As we’ve noted in the past, Visible is playing in one of the hotter areas of investment activity. We’ve tracked financing deals for Seattle’s Banyan Branch and Prosodic in recent months, as well as acquisitions of Seattle’s Spring Creek Group (acquired by Mediabrands) and Seattle’s BuzzLabs (acquired by City Grid Media). In one of the bigger deals in the space, Salesforce.com bought Radian6 for $326 million last year.

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Comments

  • Tim Reha

    John – I would expect deeper commentary on a $5.5 round when there were way bigger rounds before this. What is the real deal with this company.

    Who are the funds from? What is the use of proceeds?

    Seattle is a tiny VC market, get on the homework gang. Really.

    • johnhcook

      Thanks Tim. This was an incremental update to my past reporting on Visible based on a SEC filing I discovered this week. The filing listed $23M, so I asked the CEO about it and what it meant.

      As I reported, it was an inside round from existing investors (listed above), and it came in conjunction with the acquisition of Kantar Media/WPP’s Cymfony unit. As I noted above, the money will be used to integrate the products, and boost sales and marketing, and yes it is a smaller round than previous raises which was implied from the total financing figure that I included
      What is it exactly that you would like to know beyond that? Based on your comment, seems like what you may be asking is whether there was a valuation haircut in this round? Is that what you want to know?

      Please let me know if there was something more specific you were looking for related to Visible, and I’ll try to answer that myself or find out or toss out to the community here in the thread for more info. Thanks again for the comment.

      • Tim Reha

        Hi John, Yes, was it a haircut round? Seems like lots of acquisitions in this space, so interested to see how it plays out with Visible.

        • johnhcook

          Thanks for the follow up Tim. As you probably know, valuation information is hard to compile when it comes to privately-held companies, made more challenging when it is a round led by insiders.

          Let me ask the company whether this was an “up” round or “down” round. I have my guesses, but let me see what I can find out.

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