ADOTAS – Clearspring, the company behind social sharing platform AddThis, just closed a $20 million Series D funding round led by Institutional Venture Partners. The investment will go toward development of Clearsprings publisher offerings and advertising products, as well as potential acquisitions.
IVP is in good company, joining current investors New Enterprise Associates, Novak Biddle Venture Partners, former AOL vice chair and president Ted Leonsis, AOL cofounder Steve Case, Capital One cofounder Nigel Morris and Silicon Valley super-angel Ron Conway.
One of 20 web tools with a Google Pank Rank of 10, AddThis supports social sharing across 9 million domains and 300 social networks around the world. The platform processes 10 tetrabytes of data daily, which Clearspring notes on a weekly basis is on the scale of the entire digital U.S. Library of Congress stored online. AddThis’ reach has grown from 200 million uniques a month in 2008 to 1 billion a month currently.
“With this investment, we can now bring the power of that reach back to the individual publisher via our next generation tools and services, which will focus on providing publishers actionable data, not just from the social web, but the entire web,” said Clearspring cofounder and CEO Hooman Radfar. “Imagine the challenges we can help a publisher solve — it’s a staggering opportunity.”
Back in December, Clearspring introduced a social analytic offering for publishers — the Implicit Interest Graph determines interests by user behavior and categorizes them by levels of intensity.