Collective Intellect, the leading social media analytics company helping businesses track, understand and use social media, today closed its second round of institutional funding by raising $6.6 million from venture capital firms led by Grotech Capital Group and including existing investors Appian Ventures and Croghan Investments and new investor Crawley Hatfield Capital, LP.
Proceeds from the investment will be used to dramatically expand Collective Intellect’s marketing and sales initiatives, leading to expanded distribution of its monitoring services and analytics-based content, as well as broader application of the company’s insights in social media campaigns. This round of funding follows the $2.6 million infusion that Collective Intellect received in February 2006 which was led by Appian Ventures and included other accredited investors in Colorado and New York.
Collective Intellect is a social media analytics company that helps businesses track, understand, and use social media. By utilizing artificial intelligence to sift through online media in real time, Collective Intellect accurately identifies social media participants and communities with knowledge and influence, filters and ranks information capabilities delivering the best content on any topic, and provides key conversation analysis critical in developing and measuring the success rates of sales and marketing programs.