Got Funds? Crowd Factory Scores $6.5 Million
ADOTAS – Its apps may be powered by the crowd, but the company is still fueled by venture capital — social marketing app-maker Crowd Factory secured $6.5 million in equity financing in a round led by Storm Ventures, whose Ryan Floyd will join Crowd Factory’s board of directors. Existing investors including Hummer Windblad and Pennisula Ventures also donated to the cause.
Launched in June 2010, Crowd Factory’s social marketing suite enables brands to embed social elements into all marketing experiences, including video, email and display. It also boast analytics that break social activity down to the individual level and track consumers from first interaction to conversion.
Crowd Factory also released initial client stats showing typical conversion improvement of 300% to 500%, 50% to 100% lift in campaign performance, and five to 15 new visitors for each social activity. HBO, Sony and Universal McCann are a few big names that have employed Crowd Factory’s services.
“Last year, companies were focused on creating a presence on social networks; this year, they’re looking at ways to make all of their programs more social,” said Crowd Factory CEO Sanjay Dholakia. “Crowd Factory helps companies not only to amplify their marketing messages through the crowd on social networks, but also provides brands with the data and analytics they need to measure and monetize their social marketing spend.”
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