Social Intelligence Company Claritics Raises $1.5M; Named TIEcon's Top 50 Startup

Social Intelligence firm Claritics recently raised $1.5M in Series A financing. The company will use these funds, provided by Cervin Ventures and TiE Angels, to continue improving their product suite and expand sales and operations. More after the jump. Analytics is a core component in operating businesses. Claritics' provides social intelligence apps as a service that track data across many social platforms. With a wealth of data, few companies are tapping into the rich data available on the social web. Companies such as Kontagent and Mixpanel focus mostly on social and mobile games, whereas Claritics' strategy is to focus on a broader marker for social commerce. “Social gaming and social commerce provides a unique opportunity for companies to understand their customers’ activities, behaviors and demographic profiles like never before,” said Raj Pai, CEO and co-founder of Claritics. “Our goal is to organize the enormous amount of social data in a way that not only delivers immediate, actionable insights but allows our clients to create automated processes around it and leverage predictive modeling to optimize campaign performance on-the-fly. This allows us to offer forward-looking social intelligence instead of the typical, backwards-facing analytics approach.” Claritics has been running a private beta with many developers including Grab Games, Hallmark's Social Calendar and others. It'll be interesting to see how Claritics positions itself as the market is relatively crowded. There are many social media platforms and tools out there that help brands and companies understand where the conversation is taking place about their brands and to act on them. There are also companies like Kissmetrics which help with funnel analysis and Mixpanel which is best suited for tracking events. The problem many face today isn't about collecting data - it's about actionable insights. Trying to make sense of data can be a daunting task especially as it may cause executives to lose focus on what is most important. It will be interesting to see which kind of clients the company goes after as Kontagent and others have been well positioned for years in the space. We covered Kontagent recently earlier this year as they disclosed tracking 10,000 social events per seconds and also in a comparative piece when we looked at some of the top analytics suites for Facebook developers. Its unclear whether Claritics will focus on a platform like Facebook or be more open web but the signs seem to indicate the latter. “The rise of social commerce is being led by social game developers, but there is tremendous opportunity for nearly every type of merchant, from retailers and media companies to service providers and resellers,” said Neeraj Gupta, managing director of Cervin Ventures. “But to operate in this realm effectively, companies have to harness the incredible amount of data flying around, which requires a fundamentally new approach. Claritics gives clients the ability to identify mission-critical events right away and make changes to their content, features and marketing campaigns in time to have a dramatic impact on their outcome.” Claritics has also been awarded a top 50 recognition at entrepreneurial conference TIEcon due to its vision and execution around social intelligence and automated optimization. Since its inception two years ago, 94% of TiE50 companies have been funded, attracting over $20 Billion in investments, so congratulations to the Claritics team.

Social Pro Daily

Social Intelligence Company Claritics Raises $1.5M; Named TIEcon's Top 50 Startup

Social Intelligence firm Claritics recently raised $1.5M in Series A financing. The company will use these funds, provided by Cervin Ventures and TiE Angels, to continue improving their product suite and expand sales and operations.

Azam Khan

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Azam Khan