Bengaluru (Karnataka) [India], April 2 (10cric login): Social media analytics and big data SaaS company Circus Social has raised one million dollars in a pre-series A round of funding led by Inflection Point Ventures and other marquee investors based in the United States, Singapore and India.
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 has clients across multiple industries in over 15 countries in Asia Pacific.
Founded by IIT Kharagpur and IIM Ahmedabad alumnus Ram Bhamidi and King's College London graduate Prerna Pant, the platform 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).
Over four 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 this data in real-time, said Co-Founder and CEO Ram Bhamidi.
"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," he said.
Co-Founder Prerna Pant said: "We look forward to accelerating our growth across the region and globally, and scaling our operations and offerings significantly over the next 12 months."
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 dollars.