Social Media benchmarking company Unmetric has raised $3.2 million in Series A funding led by Nexus Venture Partners, reports Reuters. The company intends to use the funds raised to develop its benchmarking platform and expand its operations in the United States.
Along with this announcement, Unmetric also debuted a new service called Unmetric Score, which essentially provides a snapshot of the brand’s social media performance versus its competitors in the industry, based on data from over 24 qualitative and quantitative parameters.
Founded in 2010, Chicago-headquartered Unmetric delivers benchmarkable social media data for various industry sectors like content strategy, engagement, growth, and timing and frequency of Twitter and Facebook updates as well as monitor their competitor’s social media engagement strategy by sending custom alerts to brands about its competitor’s social media strategy and providing analysis across various metrics like the competitor’s social media content, response time, fan demographics and sentiment analysis.
According to the company’s website, Unmetric’s customers include Citibank, Nestle, Airtel, and MakeMyTrip among others and it claims to be monitoring more than 2000 Facebook pages and 1500 Twitter accounts of the world’s biggest brands.
Other fundings in the segment: In November 2011, social media marketing and analytics company Salorix had raised $3.5 million in a series A funding round co-led by Inventus Capital Partners and Nexus Venture Partners. The company had then stated that it intends to use the funds raised to improve its technology development efforts and expand its existing solution sets. Mumbai-based social media agency Social Wavelength has also raised a second round of angel funding from four investors including two existing angel investors Sunish Sharma and Jayendra Shah.