The home improvement chain also said the malware responsible for the breach has been removed from all stores.
The funding will be used to further develop Claritics’ suite of social intelligence applications.
Mountain View, CA – May 12, 2011 – Claritics, Inc. (www.claritics.com), a next-generation social intelligence company, announced today it has received $1.5 million in Series A financing lead by Cervin Ventures and TiE Angels. The financing will enable Claritics to accelerate its mission to turn social data into social intelligence that helps application developers improve their reach, retention and revenue campaigns. The capital will also be used to continue enhancing the company’s innovative analytics suite and to fund its sales and operations growth.
Recognized among this year’s select group of TiE50 winners, Claritics will demo a beta version of its social analytics suite at Table 801 during TiEcon 2011. TieCon 2011 takes place in the Santa Clara Convention Center in Santa Clara, CA, May 13 – 14.
“Social gaming and social commerce provides a unique opportunity for companies to understand their customers’ activities, behaviors and demographic profiles like never before,” said Raj Pai begin_of_the_skype_highlighting end_of_the_skype_highlighting, CEO and co-founder of Claritics. “Our goal is to organize the enormous amount of social data in a way that not only delivers immediate, actionable insights but allows our clients to create automated processes around it and leverage predictive modeling to optimize campaign performance on-the-fly. This allows us to offer forward-looking social intelligence instead of the typical, backwards-facing analytics approach.”
The funding will be used to further develop Claritics’ suite of SaaS social intelligence applications, which track data from across multiple social platforms in real-time and deliver it via a neatly-packaged dashboard to help marketers and application developers take immediate action on their acquisition, engagement and monetization campaigns. The company’s cloud-based solutions also deliver complete reliability and scalability, while requiring very little technical integration and almost no maintenance on behalf of its users.
“The rise of social commerce is being led by social game developers, but there is tremendous opportunity for nearly every type of merchant, from retailers and media companies to service providers and resellers,” said Neeraj Gupta, managing director of Cervin Ventures. “But to operate in this realm effectively, companies have to harness the incredible amount of data flying around, which requires a fundamentally new approach. Claritics gives app developers the ability to identify trends in real-time and make immediate improvements to their application’s content, viral features, marketing campaigns and other business-critical functions.”
Claritics’ analytics platform has been in private beta with a number of leading media companies and Facebook application developers, including Grab Games, Hallmark’s Social Calendar and others. The company will soon begin accepting applications for its open beta program, providing early access to this advanced social intelligence platform and its complete suite of analytics applications.
Claritics also plans to use the capital to grow its engineering team and its sales and marketing capabilities. It is currently hiring for many positions in its Mountain View, California, offices. For a list of open positions, visit www.claritics.com/careers.
Claritics is a social intelligence company that delivers rich analytics for immediate, actionable insights to help social commerce companies reach faster, smarter decisions. The company is the first solution of its kind to turn analytics into automated business processes that continuously improve its customer’s reach, retention and revenue campaigns. Claritics’ cloud-based suite of social analytics applications track data from across multiple platforms in real-time to allow game developers, marketers and social commerce companies to make immediate improvements to their businesses. Headquartered in Mountain View, California, Claritics is venture-capital backed and led by a seasoned management team with deep expertise in data analytics and marketing automation. For more information, visit www.claritics.com.
About Cervin Ventures
Cervin Ventures is an early stage B2B technology fund investing in mobile, cloud computing, software-as-a-service and social media startups. Cervin Ventures has been founded by a team of successful ex-entrepreneurs, whose experience and network allow them to find exceptional entrepreneurs, build strong alignment on company goals with the founders, and work with them to create great companies.
Cervin Ventures can be found at www.cervinventures.com.
About TiE Angels
TiE Angels is a platform for angel investors to work together to provide a structure, process and discipline for angel investing, as well as to benefit from the collective wisdom of other angel investors. TiE Angels is governed by a Steering Committee of the TiE Silicon Valley board. For more information, visit http://sv.tie.org/initiative/tie-angels.