Singapore: Circus Social, a Singapore- and India-based social media analytics company, announced today that it has raised US$1 million in pre-Series A funding.
Indian VC firm Inflection Point Ventures (IPV) led the round, with participation from several other strategic investors, including Saurabh Gupta, Director of DC OSSE; Ganesh Mohan, Head of Strategy of Bajaj Finserv; Samit Shetty, CEO of Navi FinServe; Royston Tay and Yang Bin Kwok, co-founders of Zopim; and Srinivasan Venkita Padmanabhan, President of Olam Group.
Circus Social will use the funds to scale its platform, expand globally and strengthen its team.
Founded in 2013, by Indian Institute of Technology graduate Ram Bhamidi and King’s College London graduate Prerna Pant, Circus Social is a platform that helps businesses makes decisions from real-time social media conversations.
Its offerings allow companies to track competitors, benchmark performance, analyze sentiment and predict trends using AI and Machine Learning.
The startup has clients across multiple industries in over 15 countries in the Asia Pacific, including Fortune 500 clients across the Asia Pacific.
Mitesh Shah, the co-founder of IPV, said: “Social listening has become a mainstay of the marketing strategy of most enterprises today. Brands want to know what their customers want and give it to them in real-time. Plain vanilla social marketing is passé. Circus Social founding teams’ understanding of AI and its use in social listening has proven its mettle based on the numbers we have seen, thus making it a good opportunity for IPV to invest in the company.”
With 4.8 billion internet users and over 3.96 billion social media users globally, roughly 51 percent of the world’s population is on social media. An average user is on nine social platforms, making the market size and need for Big Data analytics products extremely huge.
The global social media analytics market size is expected to grow from US$3.6 billion in 2020 to US$15.6 billion by 2025, at a compound annual growth rate (CAGR) of 34.1 percent.