NetBase, the enterprise-scale social media analytics company, today announced that it has completed a new round of growth funding with $24 million in Series E financing led by new investor Spring Lake Equity Partners.
Also participating in the financing were long-time investors Thomvest Ventures, Altos Ventures, and WestSummit Capital.
NetBase will use this additional funding to accelerate its market position within the core listening and analytics space, continue developing a rich innovation roadmap, support critical alliances and drive global expansion.
“We seek to partner with great management teams at later-stage, technology-oriented private companies to help them take their businesses to the next level, creating value for all stakeholders,” said Carmen Scarpa, founding partner at Spring Lake Equity Partners. “It was a natural decision to invest in NetBase. The company is disrupting the social analytics space with its proprietary technology and innovation, and we’re well-matched to pursue the ambitious goals for growth.”
The new management team at NetBase has set the foundation for a strong trajectory having led the company through 10x customer growth and 7x revenue growth in the Social Analytics space.
“I look forward to working with the team at Spring Lake Equity Partners,” said Peter Caswell, chief executive officer at NetBase. “What stood out to me about them is the team’s experience in our category. They intimately understand the market and see the strategic advantage NetBase brings through its advanced platform. They are great people to partner with as we embark on our next phase of growth.”
About Spring Lake Equity Partners
Spring Lake Equity Partners is a Boston-based private equity firm. The firm invests equity capital primarily in later-stage, technology-oriented private companies in sub-sectors such as software, digital media, mobile, data center infrastructure, healthcare IT, and business/financial services. Spring Lake seeks to partner with great management teams to take their businesses to the next level, creating value for all stakeholders. The principals at Spring Lake formerly constituted the private equity arm of Tudor Investment Corp., a global hedge fund, prior to spinning off in 2013.
NetBase is the award-winning social analytics platform that global companies use to run brands, build businesses, and connect with consumers every second. Its platform processes millions of social media posts daily for actionable business insights for marketing, research, customer service, sales, PR, and product innovation. NetBase is a trusted partner to American Airlines, Arby’s, Coca-Cola, Kenneth Cole, Ogilvy, T-Mobile, Taco Bell, Universal Music Group, Walmart, and YUM! Brands. Learn more at www.netbase.com or @NetBase.