Big Data-Fueled Social Startup 33Across Raises $13 Million
Deal making in the social marketing realm shows no sign of slowing down as one East Coast startup attracts millions in VC funds to grow its Big Data technology platform.
33Across, a New York City-based startup at the intersection of two of the biggest trends in tech -- Big Data and social marketing -- just closed a round of financing led by Pelion Venture Partners. The transaction is valued at $13.1 million.
33Across lays claim to the world's "largest social and interest graph," besting both Google and Facebook. The company's technology platform leverages Big Data and predictive analytics to turn unstructured data, including social and search signals, into intelligence that marketers and publishers can use to better engage consumers and online audiences.
"Big Data has the potential to transform digital marketing and publishing, and this capital infusion accelerates our position as the most trusted partner for the world's largest advertisers and content owners," said Eric Wheeler, CEO of 33Across. It's a boastful claim, but not one without some merit.
33Across claims that its Brand Graph technology touches over a billion online users worldwide. To date, the company has attracted over 375 Fortune 1000 marketers and over 600,000 publishers. In January, 33Across acquired Tynt Multimedia, a social sharing analytics and sharing tools provider that brought with it 500,000 publishers.
Even better, in Pelion Ventures partner Chad Packard's view, is that 33Across' technology works independently of today's incumbent social gatekeepers.
"The term 'social graph' is more often associated with Facebook than any other technology company," said Packard in a company release . "However, there is a wide-open race underway to determine who will most successfully leverage anonymous social data gleaned from billions of actions taking place across the 'rest-of-Web.'"
The company plans to use the funds to advance its platform and "expand its presence in the advertising and publishing industries." To date, the startup has raised over $26 million.
But that amount is a mere fraction of the funds that have traded hands in recent months as businesses rush to capitalize on the sizzling social media market.
In May, Oracle snapped up Vitrue, a social marketing cloud services specialist. While the companies have kept mum on the financial aspect of the deal, reports peg the transaction at $300 million. Last month, Salesforce dipped even further into its coffers to take a popular social marketing services provider off the market. The cloud CRM pioneer acquired Buddy Media for a whopping $689 million.