Circus Social Raises $1 Mn In Pre-Series A Round Led By Inflection Point Ventures
Funds raised would be used for expanding geographically and strengthening its tech team
Social media analytics and big data software-as-a-service (SaaS) company Circus Social has announced on Friday to have raised $1 million in a Pre-Series A Round led by Inflection Point Ventures, and other marquee investors based in the US, Singapore, and India. These investors include Saurabh Gupta, Ganesh Mohan, Samit Shetty, Royston Tay, and Yang Bin Kwok, and Srinivasan Venkita Padmanabhan.
The Singapore- and Bengaluru-based company plans to use the funds to accelerate its growth in other geographies, strengthen its sales, engineering, and data sciences teams and scale new revenue streams.
"Circus Social already has an enviable list of clients in Asia and this investment will help them strengthen their core teams and accelerate their growth. Social listening has become a mainstay of the marketing strategy of most enterprises today. Brands want to know what their customers want and give it to them in real-time. Plain vanilla social marketing is passé. Circus Social's founding teams' understanding of AI and its use in social listening has proven its mettle based on the numbers we have seen, thus making it a good opportunity for IPV to invest in the company," Mitesh Shah, co-founder, Inflection Point Ventures.
Founded by IIT-Kharagpur and IIM-Ahmedabad alumnus, Ram Bhamidi, and King's College London Graduate, Prerna Pant, Circus Social helps brands and businesses get actionable business insights from social and digital data in real-time through the use of big data, artificial intelligence (AI), and machine learning (ML). Circus Social has clients across multiple industries in over 15 countries in the Asia Pacific.
"Over 4 billion people are active on social media globally, collectively generating a massive amount of conversations, engagement, and activity every day. Brands, marketers, researchers, analysts, and businesses are struggling more than ever to make sense of all of this data in real-time. Our AI-powered social listening and analytics platform uses big data architecture and AI/ML algorithms to empower companies with comprehensive data and actionable insights in real-time," stated Ram Bhamidi, co-founder and chief executive officer, Circus Social.
With 4.8 billion internet users and over 3.96 billion social media users globally, roughly 51 per cent of the world's population is on social media. An average user is on 9 social platforms, making the market size and need for big data analytics products extremely huge.
"We look forward to accelerating our growth across the region and globally, and scaling our operations and offerings significantly over the next 12 months," added Prerna Pant, co-founder and chief operating officer, Circus Social.
The global social and digital data analytics market is growing at 30 per cent per annum. The addressable market for Circus Social has reached $7 billion. Circus Social's SaaS platform for enterprises – its flagship offering – 20/Twenty tracks all available data points and distills them into signals for their clients, empowering companies with real data in real-time.