UK-based social media analytics provider Brandwatch has secured $22m in funding in a series B round led by venture capital firm Highland Capital Partners, and featuring media data provider Gorkana and Nauta Capital.
Gorkana invested $1.5m in Brandwatch in 2010, while Nauta led a $6m equity round for the company in March 2012.
Brandwatch intends to use the new funds to double the size of its product and engineering teams, while tripling its investment in physical infrastructure and incorporating new data sources, particularly regarding social media in Asia.
“Our reputation as the expert’s social intelligence platform is only as good as our technology, which is why we plan to funnel this investment directly into our Engineering department across the board,” said Brandatch CEO Giles Palmer.
“Our partnership with Highland will help fuel Brandwatch’s lightning-paced growth on a global level, especially in New York City and San Francisco.”
As part of the round, London Business Angels (LBA) and its associates made a partial exit, divesting up to 30% of a sizeable minority stake it obtained through a £500,000 ($835,000) investment in 2006 and 2007. LBA reportedly made a 13x return on the stake it sold.