BOULDER, CO--(MARKET WIRE)--Apr 16, 2008 --
Collective Intellect
(
www.collectiveintellect.com),
the leading social media analytics company
helping businesses track, understand and use social media,
today closed its
second round of institutional funding by raising $6.6 million
from venture
capital firms led by
Grotech
Capital
Group and including existing investors
Appian Ventures and Croghan
Investments
and new investor Crawley Hatfield Capital, LP.
Proceeds from the investment will be used to dramatically
expand Collective
Intellect's marketing and sales initiatives, leading to
expanded
distribution of its monitoring services and analytics-based
content, as
well as broader application of the company's insights in
social media
campaigns. This round of funding follows the $2.6 million
infusion that
Collective Intellect received in February 2006 which was
led by Appian
Ventures and included other accredited investors in Colorado
and New York.
"Social media is now a mainstream phenomenon impacting the
bottom line of
every business," said Don Springer, Founder and Chief Executive
Officer for
Collective Intellect. "This investment validates our success
in providing
these businesses with real-time intelligence on social media,
empowering
them with the actionable insight to create relationships,
optimize
campaigns, and invite closer one-on-one participation. We
now have the
resources to become the standard in how companies measure
the impact of
social media."
Collective Intellect specializes in comprehensively tracking,
filtering,
ranking, and analyzing social media content for a wide array
of businesses.
The company refined its approach by helping financial services
clients with
more than $100 billion in assets utilize social media to
make smart
business-building decisions. Across blogs, discussion boards
and social
networking websites, Collective Intellect employs advanced
artificial
intelligence algorithms to identify and analyze social media.
"Collective Intellect's management team has a strong record
of generating
substantial returns to its investors," said Joseph Zell,
General Partner at
Grotech. "Collective Intellect enables marketers and communicators
to
engage in the single largest trend shaping consumer behavior
today through
data-driven decisions. Their instantaneous data allows social
media to be
actionable as well as informational. We are confident that
Collective
Intellect is poised to achieve even greater success."
About Collective Intellect
Collective Intellect is a social media analytics company
that helps
businesses track, understand, and use social media. By utilizing
artificial
intelligence to sift through online media in real time,
Collective
Intellect accurately identifies social media participants
and communities
with knowledge and influence, filters and ranks information
capabilities
delivering the best content on any topic, and provides key
conversation
analysis critical in developing and measuring the success
rates of sales
and marketing programs. Founded in 2005, Collective Intellect
is based in
Boulder, CO. For more information on Collective Intellect,
please visit
www.collectiveintellect.com
and blog.collectiveintellect.com.