Social analytics and personalization platform GraphDive has closed $2 million in its first ever equity round from Crosslink Capital, Correlation Ventures, Plug & Play Tech Center, Start Capital and angel investors Pejman Nozad, Ullas Naik and Scott Banister.
$2 million equity round
The equity round will help it built more compelling technology to analyze social data to provide deep user analytics, actionable insights and personalized offers for its clients.
Co-founded in 2011 by Sina Sohangir and Shahram Seyedin-Noor, GraphDive raised over $1 million in initial funding. The firm provides businesses with deep, actionable insights to drive future marketing campaigns, personalize online offers and segment their users including Fortune 500 companies and leading online businesses. It also says it has seen 10 times growth in its API usage over the past three months.
Social login tools
GraphDive uses social login tools such as Facebook Connect, Twitter, LinkedIn and (now) Google+ login to provide deep user analytics for the enterprise via a simple API and enterprise dashboard. Its trifecta of offerings include a personalization widget, a user segmentation tool and a digital advertising toolkit to drive higher ROI on social ad spending.
According to CEO Shahram Seyedin-Noor, “The bottom line is that clients want actionable user insights that drive engagement. We offer a suite of products to grow revenues. Our growth has been phenomenal and we’re seeing a hockey stick in our monthly API usage.”
Power to harness the social data revolution
Its growth is pegged that on the thought that most businesses are yet to harness the social data revolution for their benefit. Its proprietary Concept Graph interprets social media chatter to discover actionable insights on users. Using social data shared via Facebook Connect, GraphDive can infer a user’s age, education, marital status and now even income, with 70% to 95% accuracy. It also creates a detailed interest graph for each user and then maps against any product or service catalog for personalized offers.
GraphDive’s Cofounder and CTO Sina Sohangir, a Stanford PhD concluded the firm has invested significantly in creating the best solution on the market that can really drive ROI for their customers. Its underlying technology competes directly with top companies such as Google, Gravity and Klout which use their own “Knowledge Graphs”.