Social Marketing Company WayIn Looking for Fresh Cash

Seeks up to $20 million

The Twitter-focused marketing company WayIn, backed by Sun Microsytems founder Scott McNealy, is looking to raise up to $20 million, a source with knowledge of the fundraising told Adweek.

WayIn has been meeting with potential investors and showing off its new strategy that helps brands mold social media for their purposes. WayIn was founded in 2010 as more of a social polling and survey company, but that business was challenging, sources said.

It is now one of the companies fully plugged into Twitter’s torrent of data, and it customizes social media experiences for brands and ad agencies.

A source close  to the company said that WayIn is on better footing after a shakeup that included hiring a new CEO last year, Elaine Wood, another Sun Microsystems alum.

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