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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