In the next 17 months, it expects 10% of its B2B customers will be transacting on the web, an executive says.
Crowd Factory will use the funds to boost its development and marketing efforts.
Social marketing applications vendor Crowd Factory has raised $6.5 million in a funding round led by a new investor, private equity firm Storm Ventures. Existing investors Hummer Winblad, Peninsula Ventures and several angel investors also participated in the round.
The vendor says it plans to use the funding to bolster its development and marketing efforts.
Among Crowd Factory’s offerings is an HTML tag that companies, including retailers, can place at the bottom of a web page, e-mail or video that enables consumers to share content with social networks. That tag allows Crowd Factory to track consumer engagement—from who clicks on the shared link to who ultimately converts.
Being able to provide a measureable return on investment from social marketing distinguishes Crowd Factory’s offering, says Sanjay Dholakia, Crowd Factory CEO.
"Last year, companies were focused on creating a presence on social networks. This year, they're looking at ways to make all of their programs more social," he says. "Crowd Factory helps companies not only to amplify their marketing messages on social networks, but also provides brands with the data and analytics they need to measure and monetize their social marketing spend."
Crowd Factory’s clients include online security services provider McAfee, cable network HBO and AutoTrader.com.