TrendKite is closing out 2017 with the announcement that it’s raised a further $11 million in funding.
The Austin-based startup says it’s at present analyzing four.2 million articles each day, and utilizing that evaluation to assist each manufacturers and companies to measure the impression of their PR efforts. So, it may well establish the whole viewers reached by articles mentioning the corporate, or spotlight which articles had essentially the most impression on model consciousness.
TrendKite’s income has grown by greater than 100 p.c year-over-year, with prospects together with Mondeléz Worldwide, Nike and Delta. The corporate says the brand new funding will go towards further product improvement, with the purpose of constructing “PR software program as indispensable to the CMO as CRM or advertising automation software program.”
Touting the worth of “earned media” (specifically, getting consideration through editorial content material fairly than promoting) may appear rather less convincing at a time when the president of the US has repeatedly attacked mainstream media shops, and there’s extra concern that ever that everybody’s getting caught inside their very own filter bubbles.
Requested through e-mail how TrendKite’s position should evolve within the present setting, CEO Erik Huddleston argued that the these broader modifications have largely been restricted to politics: “A considerate assessment on the most recent sensible telephone by a trusted thought chief continues to be way more highly effective than a banner advert for a similar telephone or the advertising copy on the product web page.”
And if that modifications?
“If it does, my hunch is that the worth of TrendKite and platforms prefer it solely will increase as figuring out the fitting publications and journalists which have affect over your particular goal market will turn out to be tougher with elevated ‘partisan’ media affiliation and understanding the ensuing impression will likewise tackle elevated complexity,” Huddleston mentioned.
This spherical brings TrendKite’s whole funding to greater than $46 million. It was led by Concord Companions, a agency whose portfolio consists of Chartbeat, mParticle and Postmates.
“TrendKite’s excessive progress and operational excellence, mixed with the market alternative in making earned media related to the C-suite, make this an apparent selection for Concord Enterprise Companions,” mentioned founder and managing accomplice Mark Lotke in an announcement.
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