Social Media Pays Off For Visible Technologies
[IMG]http://sseblog.wordpress.com/files/2010/01/visible-lg.jpg[/IMG]Everyone wants a piece of the social media pie, whether it's [URL="http://fixunix.com/sun4startups/entry/leveraging_social_media_to_market"]businesses building relationships with customers[/URL] or VCs looking for their place in the next big thing. [URL="http://www.visibletechnologies.com/"]Visible Technologies[/URL] has plans to benefit both -- and a fresh injection of cash to do it with.
Visible Technologies describes itself as a "provider of social media monitoring and engagement solutions" -- the description "well funded" also applies. The company has been through six rounds of funding, picking up some $46.5 million since it was founded in 2005, with the most recent closing just last week. Investor Growth Capital led the latest, a [URL="http://www.visibletechnologies.com/press/pr_20100113.html"]Series C round that garnered $22 million[/URL], including re-investments from WPP, Centurion Holdings, and Ignition Partners. In-Q-Tel -- the venture-capital wing of the U.S. government's spy agencies -- also participated, following an undisclosed investment in October.
The company's product line includes a selection of services and applications aimed at making it easier for businesses to make the leap into social media. It has [URL="http://www.visibletechnologies.com/partnerships.html"]built partnerships[/URL] with a number of marketing and public relations firms, including M80, Beyond Interaction, Burson Digital, Wunderman, and Spring Creek Group, as well as with Omniture, a provider of small business software. Its main partner, and lone Series A investor, is the London-based WPP Group, one of the world's largest communication services firms.
The company says it will use the freshly-acquired funds to push further into the international market, with a particular focus on Europe. Its existing market is serving it quite nicely as well, with a customer list that includes Microsoft, Xerox, Hormel, AutoDesk, and twenty other [I]Fortune 500[/I] companies. It has a spot on a [I]500[/I] list of its own, as entry 170 in the [I]Inc. 500[/I], and recently announced it [URL="http://www.visinsights.com/were-tracking-social-conversions-for-grammys/388/"]will be at the center of social networking[/URL] for the 52nd Annual Grammy Awards.