TrendKite, a public relations analytics company announced it raising $10.7 million in Series C round of funding led by Noro-Moseley Partners along with other participants like Battery Ventures, Silverton Partners and Mercury Fund.
Founded in 2012 and based in Austin, TrendKite develops software that allows PR agencies and brands to check the effectiveness of their public relations efforts. The company’s team consists of PR, marketing and technology professionals who enjoy living in their customers’ worlds, talking with customers daily to get a better understanding of their unmet demands. In last year alone, the team has grown by more than 300% and its revenue doubles consistently every four to five months. Till date, the company has partnered with more than 400 brands which includes Nike, Hershey, Pinterest, the Memphis Grizzlies, Mondelez International and Asana.
“Media and the way brands are telling their stories is evolving,” said Matt Allison, founder and chief product officer of TrendKite. “In the PR industry, media monitoring has remained static for a hundred years. The TrendKite team is focused on using the latest in big data technologies to go beyond media monitoring and provide quantification of impact and optimization of tactics.”
With the fresh funds, TrendKite plans to expand its operations, customer support on patents and to hire more employees. It has started working to double its workforce of 70 employees in the next six months. Erik Huddleston, CEO of TrendKite said, “This round, combined with the last, gives us the foundation needed to scale our company for further growth. We are aggressively recruiting top talent and are accelerating the product roadmap that will empower PR professionals and corporate brands.”
“TrendKite is one of the most well run companies we have seen in some time. It’s remarkable how quickly they are scaling and clearly their product offering is resonating within the PR universe,” said Alan Taetle, general partner at Noro-Moseley Partners. “We are excited to back such an excellent management team and to join a great group of investment syndicate partners.”