March 18, 2014
Social media analytics platform for enterprise, Encore Alert, announced yesterday that it has closed a $390,000 round in seed funding. The round was led by DC-based NextGen Angels – their first portfolio deal of 2014 (the angel group’s latest highlight since bringing on a managing director earlier this month).
“Every day, Encore Alert learns what actions drive results for marketers, and allows the platform to become more predictive,” said NextGen Angels managing director, Brett Gibson, in a statement. “Over time, Encore is becoming smarter. They’re gathering data on actions, alerts and making recommendations. It’s marketing automation at its best.”
The Arlington, VA-based startup’s seed round was initiated last month after an investment from Virginia’s Center for Innovative Technology. Other investors in the round include Sid Banerjee (CEO of Clarabridge), Tyler Peterson (manager of Global Social Strategy at Google), Adam Riggs (former president of Shutterstock), Grant Allen (SVP at ABB Technology Ventures and principal at Keybridge Venture), Thatcher Bell (managing director at Gotham Ventures), Michael Goldstein (founder of Exhilarator and SwitchPitch), and Sonny Ganguly (CMO of WeddingWire). As part of his investment, Ganguly will join Encore Alert’s board of directors.
“We’re extremley thrilled to have these investors on board and to continue leveraging their great expertise and advice,” said cofounder and CEO James Li in yesterday’s release. According to Li, the funds will be used to expand their current team (hoping to add technical, sales, and marketing talent), accelerate product development, and increase market exposure.
Formerly known simply as “Encore,” the company’s platform provides organizations with real-time, actionable insights on their social media. Encore Alert offers tools that let enterprises identify key mentions and trends from social media, and recommend immediate actions (such as follow back, or reply with a “thank you” tweet).
Prior to this round, the company received investment from DC-based enterprise technology accelerator Acceleprise, as a member of its third class of startups. Currently, Encore Alert is a finalist in the University of Maryland’s Cupid Cup. They’ll be demoing at Thursday’s DC Tech Meetup.
Tech Cocktail CEO Frank Gruber and COO Jen Consalvo are members of NextGen Angels.
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