When a duo of Seattle-based genial blokes raised $250,000 to launch a company called ‘Untitled Startup,’ the future of the firm was all but plain; the company’s generic name wasn’t a lark – the team didn’t have much of a plan for their firm. Local Founder’s Co-op obviously knew what it was doing when it invested in Damon and Aviel, however: Untitled Startup is now Simply Measured, a rapidly expanding firm that just locked down an $8 million Series B round of funding led by Bessemer Venture Partners.
During the Untitled days, the small team spoke about their progress, sharing data and breadcrumbs along the way: video blogs and traffic information. It was quirky, and interesting. The firm has retained much of that bombast and spark, but is now most certainly a serious firm.
Interesting to this specific round of funding is how outsized it is compared to the other funds that Simply Measured rasied before: to date, before today, the company had raised a mere $900,000 in total. Not much, in other words, for a company on the move that is about to turn three.
According to Simply’s Adam Schoenfeld, the firm did not need the money “to keep the lights on,” but instead wanted to move more quickly than their cash flow, presumably, would allow them. “We’re thinking big about the opportunity ahead,” he says.
Simply Measured’s service is a suite of social media analytics and reporting tools that are data porn for the number-friendly. Simply will track anything you can imagine, and then slice it into as many spreadsheets, graphs and charts as you can handle.
The team calls their product ‘reporting-as-a-service,’ or RaaS if you were looking to add another acronym to your personal bastard lexicon.
In addition to its new funds, Simply today announced the introduction of Google Analytics reporting and data integration to its product. This new data source will allow the firm to better apply social data on top of raw traffic information to draw connections and synthesize relationships. From Simply itself, here’s an example of what the new Google Analytics capability can do:
This is a natural progression to the company’s product, but one that fits well into its service matrix.
At the end of our first post on Untitled Startup back in 2010, TNW concluded with the following note: “A firm congratulations to Untitled Startups for being unique, useful, and funded. Hurry up and build something new.” They listened, it seems.
Top Image Credit: Mark Coggins