Businesses today have the benefit of access to tons of data on their customers, what they’re buying, what their social behavior looks like, and more. The problem, though, is how best to funnel the fire hose of social data. Companies can now collect so much social data on their customers, it can be difficult to narrow it down to the most applicable, and useful, information that will allow them to optimize their social campaigns.
This is where Claritics comes in. The Mountain View-based startup provides a suite of social analytics applications that enables businesses to get a better idea of where their customers are coming from, what they’re doing within applications, and what hooks them into a purchase. Claritics analyzes the data and provide insights in realtime so that businesses can get a better sense of what works and what doesn’t.
Today, Claritics announced that it has closed a $1.5 million series A funding round, which the company says it will use to beef up its analytics suite and grow its sales and operational staffs. The round was led by Cervin Ventures and TiE Angels.
Founded in 2010, Claritics has been in private beta and has been testing its suite of SaaS social intelligence applications with media companies and Facebook app developers, including Grab Games, Hallmark’s Social Calendar and more. The startup will soon begin accepting applications to its open beta.
The company will be competing with businesses like Omniture and Webtrends, and Echo in the realtime data aggregation and trending, so it hopes to narrow its focus on social eCommerce. To be successful there, Neeraj Gupta, managing director of Cervin Ventures said, companies have to harness the huge chunks of data produced by the ever-more social web, and doing so requires a new solution. Therefore, Claritics allows app developers to identify trends in realtime and react to those changing trends in realtime. Developers can update the content of their app, viral features, marketing campaigns on-the-fly, using the analytics suite.
But the real key to success here may be to move away from the backwards-facing approach of traditional web analytics, CEO Raj Pai, to offer forward-looking social analytics that enable users to “create automated processes” around their social data and “leverage predictive modeling” to make social campaigns more effective in realtime.