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| October 01, 2009 |
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| EDV Invests in Scout Labs, Leader in Social Media Monitoring and Analysis |
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| Portfolio Company: Scout Labs |
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San Francisco, CA -- Scout Labs, Inc., the leader in web-based social media monitoring and analysis for teams, has closed an additional round of funding from new investors El Dorado Ventures and Javelin Venture Partners and existing investor Minor Ventures. The new round will fund marketing and sales efforts further accelerating Scout Labs' rapid market share growth. Scout Labs is already a technological leader in the category, with real-time dashboards, automated sentiment scoring that learns from user feedback, customer quotes extraction, and social media spam filters. This new funding will augment the amount of data Scout Labs indexes and the company's R&D efforts.
"Every company that is serious about marketing will need comprehensive tracking and analytics tools to both monitor how their brand is being discussed online and know when to make adjustments," said Jed Katz, Managing Director at Javelin Venture Partners. "Scout Labs is the leader in this new and incredibly important space, with the technical sophistication and marketing savvy to help companies of all sizes better manage their marketing strategy."
"Scout Labs quickly earned not only the business, but also the fierce loyalty of some of the world's best brands," said Tom Peterson, General Partner at El Dorado Ventures. "Its rapid success is a testament to its unique focus on customer insight for companies, as well as its robust technology platform that can scale to meet the demands of this large emerging market."
Katz and Peterson will join Scout Labs' Board of Directors, joining Internet pioneer Halsey Minor, who founded CNET and who was the largest shareholder in Salesforce.com. "There is a huge shift underway in how companies relate to their customers - all the rules have changed," said Mr. Minor. "There are millions of companies out there who suddenly find themselves on the frontlines in a brave new world. This momentous shift represents an enormous opportunity for Scout Labs, which offers those companies visibility, insight and a platform for customer engagement."
"We are excited to close this new round of funding and welcome our new partners from El Dorado and Javelin," said Jennifer Zeszut, Scout Labs Founder and CEO. "This partnership will enable us to enter the next phase of our growth and build an even more powerful solution for our customers. Senior executives, marketers, brand managers, product managers, community managers, customer support departments, PR departments, and agencies all rely on us as their eyes and ears at this exciting time of change. This funding will enable us to extend our platform and services to continue delivering on that promise."
About Scout Labs, Inc.
Scout Labs is a leader in social media monitoring and analysis, customer engagement, and team collaboration and innovation. It is used by marketing, product management, strategy, PR, communications and customer support professionals in companies and agencies of all sizes. The company's web-based application delivers visibility into social media of all types (blogs, social networks, image-sharing sites, video-sharing sites, Twitter and more) and offers robust analyses such as automated sentiment detection, buzz measurement, importance ranking, and emerging-conversation spotting. Visit www.scoutlabs.com for more information.
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