ADOTAS – BuzzLogic garnered $7.8 million from a Series C round of financing led by Bridgescale Partners that also included participation from Adams Capital Management and existing investors. Investment banker Bob Colman supplemented the round while BuzzLogic also secured debt financing from Bridge Bank.
The social media monitor turned blog advertising platform plans to use the funds to improve its technology platform and introduce new social advertising products. In addition, BuzzLogic plans to double its sales and account management staff.
“BuzzLogic is a very different company than it was two years ago and growing revenues greater than 50% a quarter proves that,” said CEO Dave Hills, a LookSmart and 24/7 Real Media veteran that joined the BuzzLogic in March. “Before we were helping brands understand what consumers were saying, now we’re helping brands engage with the consumers by activating media for them. Before we were listening. Now we’re listening and engaging at huge scale.”
The latest round brings BuzzLogic’s fundraising total to $28 million. Last July, the company secured $8.8 million in a Series B Round led by Adams Capital Management.