Social media analytics and big data SaaS company, Circus Social has raised $1 million in pre-Series A round funding led by Inflection Point Ventures.
The round also saw the participation from other marquee investors based in the US, Singapore, and India.
These investors include Saurabh Gupta, Director Data Strategy, Operations & Modernization – DC OSSE, Ganesh Mohan Head of Strategy – Bajaj Finserv, Samit Shetty CEO – Navi FinServe Pvt Ltd, Royston Tay, and Yang Bin Kwok Co-Founders – Zopim ,and Srinivasan Venkata Padmanabhan President & Global Head of Finance – Olam Group.
Founded by IIT Kharagpur and IIM Ahmedabad Alumnus, Ram Bhamidi, and King’s College London Graduate, Prerna Pant, Circus Social helps brands and businesses get actionable business insights from social and digital data in real-time through the use of Big Data, AI (Artificial Intelligence) and ML (Machine Learning).
In a statement issued Cirus Social said, “The company plans to use the funds to accelerate its growth in other geographies, strengthen its sales, engineering, and data sciences teams and scale new revenue streams.”
Speaking on Funding in Circus Social, Mitesh Shah, Co-Founder, Inflection Point Ventures said, “Circus Social already has an enviable list of clients in Asia and this investment will help them strengthen their core teams and accelerate their growth. Social listening has become a mainstay of the marketing strategy of most enterprises today.”
“Brands want to know what their customers want and give it to them in real-time. Plain vanilla social marketing is passé. Circus Social’s founding teams’ understanding of AI and its use in social listening has proven its mettle based on the numbers we have seen, thus making it a good opportunity for IPV to invest in the company,” Shah added.
Commenting on the fundraise, Ram Bhamidi, Co-Founder & CEO of Circus Social said, “Over 4 billion people are active on social media globally, collectively generating a massive amount of conversations, engagement, and activity every day. Brands, marketers, researchers, analysts and businesses are struggling more than ever to make sense of all of this data in real-time.”
“Our AI-powered social listening and analytics platform uses big data architecture and AI/ML algorithms to empower companies with comprehensive data and actionable insights in real-time,” Ram added.
Adding to the statement, Prerna Pant, Co-founder of Circus Social further said, “We look forward to accelerating our growth across the region and globally, and scaling our operations and offerings significantly over the next 12 months.”