Another Big Day for Twitter Partners as DataSift Raises $42 Million
Another Big Day for Twitter Partners as DataSift Raises $42 Millionuesday was another big day for companies selling Twitter's data.
Datasift, a social analytics company with access to Twitter's full firehose, announced on Tuesday a $42 million Series C funding round. DataSift has raised more than $70 million total, most of it since a $6 million Series A round back in 2011.
See also: Apple Buys Twitter Analytics Company Topsy
Tuesday's Series C round was lead by New York-based Insight Venture Partners, which also invested in Twitter and other social companies like HootSuite.The funding announcement comes less than 24 hours after Topsy, another social analytics company with access to Twitter's firehose, was acquired by Apple for a reported $200 million. Topsy, along with DataSift and a third company called Gnip, have had success selling Twitter data to clients who wish to better understand the conversations occurring on the social media platform.
Many standalone companies help brands and retailers manage their social media accounts, but only these three companies, along with NTT DATA in Japan, have access to all the Tweets being sent out at any given time. More and more brands are taking to social media for advertising, meaning brands must also understand what users are talking about and sharing on each platform.
In addition to analyzing Twitter data for clients, DataSift also collects info from other platforms like Facebook, Instagram, and Tumblr.
DataSift plans to use the new funding to "continue expanding its global reach" and "expand into new data types, including internal enterprise data," according to the company's blog.
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