Buzzlogic, a company that helps brands place socially targeted ads, today announced it has raised $7.8 million in a third round of funding. The company will use the funding for product development and to double its sales and account management teams.
The company offers an ad targeting tool that indexes millions of pieces of online content on partner blogs as well as the conversations around them to help advertisers place ads. By identifying what consumers say and want in terms of products or services, Buzzlogic helps advertisers to deliver a relevant and specific offer to a ready-to-buy audience, increasing the return on investment.
Buzzlogic appears to be doing well — it claims it’s growing faster than 50% per quarter.
The company’s closest competitors are major ad targeting tools from Google and Yahoo. However, it’s social media monitoring expertise might be the differentiator needed to compete with these major brands. The proof may be in the company’s client list, which includes names like Proctor & Gamble, Toyota, Best Buy, PlayStation, Microsoft, and Starbucks.
The San Francisco-based company, founded in 2004, has secured a total of $28 million in funding. The latest round was lead by Bridgescale Partners with existing investors participating, including Adams Capital Management.