Umbel, a Austin-based startup provider of digital audience measurement solutions, has closed a $3.7m Series A round of venture funding.
The round was led by Austin Ventures, with participation from angel investors including Herbert Simon, Chairman and Director of the Simon Property group, and Gordon Paddison, CEO Stradella Road, and former EVP New Media Marketing at Newline Cinema.
The company, which is currently in private beta, will be using the funds to execute on its product roadmap and further business development goals. Umbel is expected to bring its first product to market in Q3 of 2012.
Founded in 2010 by Meredith Maycotte, Higinio (H.O.) Maycotte, Travis Turner and Nick Goggans, Umbel leverages social data to deliver insights about the people who engage with any site, service or brand. the company’s products and services have broad market and industry applications including: sports, news, politics, and entertainment.
In conjunction with the funding, Paul Krasinski, the former senior vice president (SVP) of Digital Media and Analytics at Arbitron, has joined Umbel as CEO.
Seth Goldstein, the former co-chair, IAB Social Media Committee and Turntable.fm co-founder, has joined the company’s Board of Directors alongside Thomas Ball, a Partner at Austin Ventures.