SocialBro raises £1.2m venture capital investment
Scottish Equity Partners-led funding will fund international growth for Twitter analyst firm
Twitter management and analysis firm SocialBro has closed a £1.2m round of funding led by venture capital firm Scottish Equity Partners, marking the firm’s first significant investment since initial seed capital.
Headquartered in London’s Google Campus, SocialBro claims to offer its professional clients detailed analysis in order to monetise their Twitter presence, including demographics of followers, analysis of competitors and when the best time to ‘tweet’ is.
Since launch in May 2010 the firm has grown rapidly, attracting 180,000 users and around 3,000 paying customers, including well-known firms such as Coca-Cola, T-Mobile and CBS.
The £1.2m investment will be used to fund the development of a range of new products for the company as well as growing its presence internationally.
Javier Burón, founder and chief executive of SocialBro, said: “This investment will allow us to scale our current international growth and deliver our ambitious development roadmap for new products.
“Scottish Equity Partners brings the business skills and understanding that will help us achieve our business goals. Ultimately our vision is to enable Twitter for business users and to be the ‘go to’ for any company wanting to extract brand value and financial revenues from Twitter.”
Mark Gracey, principal at Scottish Equity Partners and one of the major investors in the deal, commented: “We believe SocialBro to be a highly scalable business, well positioned to take a significant share of the social network analytics market.
“We are impressed with the rate at which its innovative enterprise tool for Twitter is being adopted. Our investment will enable the company to maximise its growth potential and we look forward to working with Javier and his team in this dynamic and evolving market.”