Buddy Media Raises $54M in Series D Funding

Buddy Media, a New York-based social media management software, has raised $54m in Series D funding.

Backers include existing investors GGV Capital, Institutional Venture Partners and Bay Partners, as well as new shareholder Insight Venture Partners.

The company intends to use the funds to double product, sales and support staff in the next year (the company currently emplys almost 200 people), open additional global offices and make acquisitions.

Led by CEO and Founder Michael Lazerow, Buddy Media provides SaaS-based software designed to allow brands to launch, maintain and measure their social media presences in any country and in any language.

In conjunction with the funding, GGV partner, Jeff Richards, has joined the company’s Board of Directors. Deven Parekh, managing director at Insight, will be a board observer; Kevin Colleran, former Facebook’s first advertising sales executive, has joined the board of advisors; business strategist Michael Kassan has been named special advisor to CEO Michael Lazerow.

In 2011, Buddy Media has added close to 200 new customers ( including global brands, retailers and media companies such as Ford Motor Company, Hanes, ESPN, Hearst Corporation, and Virgin Mobile USA), and acquired social commerce and analytics leader Spinback in May 2011.
The company also opened its European Headquarters in London last month and hired Luca Benini, a senior executive from Comscore, as Managing Director, Europe.



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