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This article was published on June 19, 2012

NetBase lands $18.1m for social media monitoring and intelligence services

NetBase lands $18.1m for social media monitoring and intelligence services Image by: Jason Stitt - Fotolia
Robin Wauters
Story by

Robin Wauters

Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

Social media intelligence solutions provider NetBase this morning announced that it has raised $18.1 million in funding from Thomvest Ventures, Altos Ventures and Tran Ventures.

Dubbed an ‘expansion round’, the capital will be used to boost sales and marketing for its social media-driven business intelligence tools for enterprises.

NetBase’s platform banks on a proprietary natural language processing engine combined with text analytics and machine learning to process and extract actionable insights from billions of posts on a variety of social networks.

This enables its clients, which include global brands like Coca-Cola add Kraft, to monitor, understand, and engage with customers in real time.

“Social intelligence is no longer a nice-to-have for companies, it’s a must-have,” said Peter Caswell, CEO of NetBase.

Notable, the company recently teamed up with SAP to be able to deliver social media analytics to enterprise companies worldwide.