NetBase, a social media analytics company, has completed a new round of growth funding with USD24 million in Series E financing led by new investor Spring Lake Equity Partners.
Also participating in the financing were long-time investors Thomvest Ventures, Altos Ventures, and WestSummit Capital.
NetBase will use this additional funding to accelerate its market position within the core listening and analytics space, continue developing a rich innovation roadmap, support critical alliances and drive global expansion.
“We seek to partner with great management teams at later-stage, technology-oriented private companies to help them take their businesses to the next level, creating value for all stakeholders,” says Carmen Scarpa, founding partner at Spring Lake Equity Partners. “It was a natural decision to invest in NetBase. The company is disrupting the social analytics space with its proprietary technology and innovation, and we’re well-matched to pursue the ambitious goals for growth.”
The new management team at NetBase has set the foundation for a strong trajectory having led the company through 10x customer growth and 7x revenue growth in the Social Analytics space.
“I look forward to working with the team at Spring Lake Equity Partners,” says Peter Caswell, chief executive officer at NetBase. “What stood out to me about them is the team’s experience in our category. They intimately understand the market and see the strategic advantage NetBase brings through its advanced platform. They are great people to partner with as we embark on our next phase of growth.”
