Optimal, a San Francisco, CA-based provider of a social media advertising and analytics platform, raised $7m in Series B funding.
Backers included new investors DoubleRock, The Social Internet Fund, Siemer Ventures, Signal Ventures, John Pappajohn, Warren Adelman (former CEO of GoDaddy), Social Starts, James Altucher and Silicon Valley Bank as well as existing investors Neu Ventures (Jerry Neumann), Stonnington Asset Allocation Fund, and WGI Group.
The company intends to use the proceeds to continue to expand its sales/marketing and engineering teams (read here).
Led by founder and CEO Rob Leathern, Optimal provides brands and advertisers with a media acquisition and optimization platform to manage social advertising campaigns in real-time and a proprietary audience analytics suite (Audience Matrix and Expander).
The company is a member of Facebook’s Preferred Marketing Developer (PMD) program.
It also has offices in Palo Alto, New York, and Chicago.
In conjunction with the funding, James Altucher, also an early investor in Buddy Media, which was sold to Salesforce in 2012, and Suraj Kumar Rajwani (DoubleRock) are joining Optimal’s board of directors. In addition, Paul Suh joined as Chief Financial Officer.