US-based social enterprise software Buddy Media, which is backed by communications company WPP, has acquired Brighter Option, a year after raising a $54m fourth round of funding.
The deal is the second buy by Buddy Media in a year, after it acquired social commerce and analytics leader Spinback last May.
The latest deal follows Buddy Media raising $54m in series D funding last August. This round was backed by Insight Venture Partners Bay Partners, GGV Capital and Institutional Venture Partners (IVP), all of which were existing investors.
WPP Digital, a division of the global communications company WPP, backed Buddy Media with $5m in October 2010. The investment was in addition to the initial series C round, led by IVP and including VC firms Bay Partners, Softbank Capital and Greycroft Partners, which raised $23 in October 2010.
Prior to that, Buddy Media’s Softbank-led series B round closed at $6.5m in April 2008, while its September 2007 series A round raised $1.7m from a range of angel investors. Buddy Media provides a platform for brands to attract customers through building an effective social network presence. Buddy Media was founded in 2007.
Brighter Option’s main product is SAM, aFacebook advertising management tool for businesses.