Insurance firm American Family has acquired portfolio company Networked Insights, a US-based provider of marketing analytics software, for an undisclosed amount.
Networked Insights provides software that allow brands to track, measure and tailor their marketing campaigns by leveraging artificial intelligence and machine learning technologies.
The company will operate as a standalone subsidiary of American Family, with its team working alongside the insurer’s data scientists on projects that utilise advanced analytics. It had previously raised about $78m.
Sands Light Capital and Cherng Family Trust co-led a $30m funding round for the company in January 2017, investing alongside American Family Ventures, the venture capital subsidiary of American Family, as well as investment bank Goldman Sachs, 4490 Ventures, Kegonsa Seed Fund and unnamed private investors.
American Family Ventures participated in the January round as an existing backer, though it is unclear when it made its initial investment.
Goldman Sachs’ Asset Management Division led Networked Insights’ $20m series B round in 2011, before taking part in a $9.4m series C round in 2013 and an $8.8m round in 2014.
The company had previously raised a reported $10m in seed and series A funding from investors including Kegonsa Capital Partners.