Crowdtap, a New York-based provider of a social influence marketing platform, raised $5m in Series B funding.
The round was led by Foundry Group with participation from Tribeca Venture Partners, Alta Communications and The Mustang Group.
The company, which has secured $15m in funding since its inception in late 2009, intends to use the funds for product expansion and hiring (it currently employs 55 people).
Led by Brandon Evans, CEO, Crowdtap provides a SaaS platform that allows marketers to influence conversations about brands across social media by inspiring crowds of consumers to create quality content and provide real-time insights.
The company partners with 100 brands including Verizon, P&G, Nestle, Kraft, Campbell’s, Reckitt-Benckiser, Clorox, AT&T and Sony, and is profitable.
It recently opened offices in LA and Chicago to support regional business development.
28/07/2011: Crowdtap Raises $7M in Series A Funding