Social media analytics and SaaS Company, Circus Social, has raised US$1 million in a pre-series A round led by Inflection Point Ventures, and other marquee investors based in the US, Singapore and India. Circus Social has clients across multiple industries in over 15 countries in Asia Pacific. The Singapore and Bangalore based company plans to use the funds to accelerate its growth in other geographies, strengthen its sales, engineering and data sciences teams and scale new revenue streams.
Mitesh Shah, co-founder, Inflection Point Ventures said, “Circus Social already has an enviable list of clients in Asia and this investment will help them strengthen their core teams and accelerate their growth.”
Shah added that social listening has become a mainstay of the marketing strategy of most enterprises today. “Brands want to know what their customers want and give it to them in real time. Plain vanilla social marketing is passé. Circus Social’s founding teams’ understanding of AI and its use in social listening has proven its mettle based on the numbers we have seen, thus making it a good opportunity for IPV to invest in the company,” Shah added.
In a conversation with MARKETING-INTERACTIVE, a spokesperson from Circus Social said the company will be looking to expand into new markets such as APAC and US, as well as strengthening its tech and data science team to create new features using AI and predictive analytics. Circus Social was founded in 2013 as a social media marketing agency, and later pivoted in 2016 to become a SaaS analytics company. Some of its clients include Twitter, Glico, Discovery Networks, and Vital Strategies.
Winner of ‘The Spark Awards 2018,’ by MARKETING-INTERACTIVE, Circus Social was recognised as the “Best Martech Solution in Social Listening”. Co-founder of Circus Social Prerna Pant (pictured left) added that the team looks forward to accelerating growth across the region and globally, and scaling our operations and offerings significantly over the next 12 months, post the investment. With 4.8 billion internet users, and over 3.96 billion social media users globally, roughly 51% of the world’s population is on social media. An average user is on nine social platforms, making the market size and need for big data analytics products extremely huge. Growing at a rate of 30% per annum, the global social and digital data analytics market, the addressable market for Circus Social has reached US$7 billion.
“Over four billion people are active on social media globally, collectively generating a massive amount of conversations, engagement and activity every day. Brands, marketers, researchers, analysts and businesses are struggling more than ever to make sense of all of this data in real time. Our AI-powered social listening and analytics platform uses big data architecture and AI/ML algorithms to empower companies with comprehensive data and actionable insights in real time,” said co-founder and CEO Ram Bhamidi (pictured right).
MARKETING-INTERACTIVE's Content 360 Week is back from 6 to 8 April this year! Super charge your content production, distribution and monetisation strategies by learning from brands such as NBA Asia, P&G, Malaysia Airlines, and Marriott International, among others. Sign up today!