Social listening platform Brandwatch gets $22 million funding

It’s a busy, exciting time in the social media marketing space, and Brandwatch becomes the latest company to come out with some big news this year.

The social media listening platform announced that it had raised $22 million in a funding round led by Highland Capital with participation from its existing investors, including Nauta Capital and Gorkana Group.

Brandwatch CEO and founder Giles Palmer announced the news in a company blog post, touting the platform’s growth in 2013, where it doubled it’s revenue over 2012 as well as the launch of a new product, Brandwatch Vizio, which creates visualization for social analytics data.

Brandwatch is now a serious business. We’re growing at more than 100% per annum (and have done for five years running), we’ve got 1,000 customers and we’re breaking even. 2013 was a great year for the company.

We launched our second product – Brandwatch Vizia, a beautiful visualization platform.

It was designed by our in-house team, led by our secret weapon Katja Garrood.

We’ve doubled our design team in the last three months and I’m looking forward to seeing what other amazing things they will produce this year.

Brandwatch is just one of the major players in an increasingly crowded social media listening/analytics space, facing stiff competition from Salesforce (Radian6), Sprinklr, Spredfast and Adobe Social. It counts Papa John’s, Cathay Pacific, Verizon and British Airways among its clients.

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