TrendKite, which helps clients gauge the effectiveness of their public relations, has raised an additional $11 million to accelerate its expansion plans.
The Austin-based company, which was founded in 2012, makes analytics software that lets agencies and brands measure and analyze the impact of their print, broadcast and online media coverage.
The lead investor in the deal was Harmony Partners, a New York-based venture capital firm.
The new infusion brings the total funding raised by TrendKite to more than $46 million. Previous investors include Adams Street Partners, Battery Ventures, Mercury Fund and Noro-Moseley Partners.
The company says it analyzes 4.2 million articles daily, and uses big data and analytics to help brands and agencies measure their performance.
“The platform we’ve built gives us intelligence on every part of the media ecosystem,” Erik Huddleston, TrendKite’s CEO, said in a written statement. “That’s important because consumers trust earned media more than they trust advertising, but marketers can’t predictably drive ROI from earned media.”
Earned media refers to publicity gained through promotional efforts other than paid media advertising.
TrendKite customers include Hershey, Nike and Delta Air Lines.
Speck, which makes smartphone cases, uses the software to track what’s being said about its products, identify opportunities to drive more traffic and monitor its competitors.
South by Southwest uses TrendKite to identify and reach journalists focused on specialized topics and expand its network, while Visit Greenville uses the software to track all print and digital coverage about Greenville, SC.
TrendKite does not disclose financial details, but said its revenue has grown by more than 100 percent year-over-year.
The company said it has more than tripled its workforce over the past 12 months and now has 200 employees. A spokeswoman said the company plans to add 75 to 100 employees in 2018.
TrendKite, which provides perks at its downtown office including gym membership and student loan assistance, is hiring in development, sales and customer support.
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