Dachis Group, the social marketing and analytics startup led by Jeffrey Dachis (who previously co-founded and led interactive marketing agency Razorfish), announced today that it has raised $7.5 million in series C financing, led by Austin Ventures.
The raise brings the company’s funding to $58.5 million, and is Dachis Group’s first financing since its $30 million series B in January 2011. Rather than being a “down round,” Dachis tells us that the company didn’t need as much capital this time around and wanted to avoid any further “dilution to its shareholders.”
Today, the Dachis Group claims to be working with more than 50 percent of Fortune 500 brands, as CTO Erik Huddleston told TechCrunch’s Anthony Ha last summer, and more than 60 percent of its customer base “already runs social campaigns.” Huddleston was referring to the launch of Dachis Group’s fourth subscription software product, Campaign Performance Monitor, which aimed to help brands discover whether or not their social campaigns were actually producing the desired results.
The product built on top of the company’s expansive social data platform — something it has looked to continue since, particularly with an expansion into Big Data. Thus, the founder says that Dachis Group is planning to use its new $7.5 million to continue expanding its big data social analytics platform, which, in less than one year, sold over 100 enterprise licenses to brands like Nokia, Bloomberg, Bank of America and AT&T, he says.
As brands and agencies continue to look to leverage social marketing to help engage with customers at scale, they need to optimize that spend and be able to better measure the ROI of social campaigns. Dachis Group’s social marketing analytics platform analyzes the social engagement of over 35,000 brands to the tune of “several hundred million social actions” each day — data which, in turn represents over 850 trillion permutations and nearly 20 billion earned brand impressions per day.
The company now offers a host of tools to help brands track engagement at scale, from performance measurement and amplification (advocate and employee insight) to reporting, along with a host of other data-driven social marketing solutions. The company wants to become the enterprise-grade, social analytics platform of record.
“In a world of mobile apps, cord cutters, time shifters, and declining mass media consumption rates, our customers realize that engagement through social marketing is the most efficient way to build a trusted, authentic brand relationship with customers,” Dachis says. “But if you can’t measure it, you can’t manage it, so we offer a platform to help them measure that engagement at scale.”