Sociocast Closes $1.5MM Bridge Financing Round to Continue Growth and Development Pace

NEW YORK--(BUSINESS WIRE)--Sociocast, provider of Big Data analysis and human behavior prediction tools for decision makers, such as marketing & advertising executives who need more robust information, has closed a bridge funding round totaling $1.5 million, which will be used to continue the groundbreaking technology development growth. The funding enables the company to build revenue and forge important strategic relationships before addressing a new round of funding in 2012.

“Closing this bridge round means we can focus on addressing our customers’ needs now and build on the existing momentum without diverting our focus to secure our immediate financial future.”

“Our opportunity is right now. The markets we serve recognize how big data can help them, and the revenue possibilities we can open up for them,” said Albert Azout, CEO of Sociocast. “Closing this bridge round means we can focus on addressing our customers’ needs now and build on the existing momentum without diverting our focus to secure our immediate financial future.”

Sociocast provides predictive modeling of human behavior based on analysis of massive data sets. This helps advertising technology companies, for example, find and expand the audience of web users that will be most interested in their products or services. The company previously closed financing rounds in January of 2010 and March of 2011. Both of those rounds included Detroit Venture Partners, a Detroit-based venture capital firm, which continues to lead the bridge financing.

“Big data is drawing significant attention as a technology strategy to solve long standing issues and enable new services, and Sociocast has a significant advantage in one of the most valuable areas of big data development: human data,” said Detroit Venture Partners’ CEO and Managing Partner Josh Linkner. “The volume of data about human interest and behavior is growing exponentially every year. Making that data meaningful is the challenge of our time. Albert and his team have turned the data deluge into a very powerful prediction engine, and the applications are endless.”

The round also included investments from New York Angels, Bobby Yazdani, Joe Zawadzki and Doug Imbruce, among others. Previous funding rounds included $1.6 million in Series A funding in January of 2010 and $1.75M in Series B funding in March of 2011.

About Sociocast

Sociocast enables customers to normalize big data sets and deliver predictive, real-time audience insights to make effective marketing decisions. Launched in 2010, Sociocast uses proprietary social intelligence to find patterns of connectivity between people, places, and things in massive data sets. Sociocast's data management and patented prediction engine makes Big Data accessible for everyone looking to improve decision-making by interpreting the explosion of human data.

Sociocast’s flagship product, Sociocast Connect, identifies patterns in live, unstructured data, helping media companies better define and become more relevant to their audiences, while enabling them to quickly monetize granular segments. With Connect, Sociocast helps advertisers reach the right people at exactly the right moment, based on where audiences are and where they are likely to go next. Connect is an industry breakthrough-collaboration between recognized experts in social network analysis, consumer behavior, natural language programming and machine learning. To learn more about Sociocast, please visit www.sociocast.com.

Follow Sociocast on Twitter at www.twitter.com/sociocast.

About Detroit Venture Partners

Detroit Venture Partners (www.detroitventurepartners.com) is a venture capital firm that invests in seed and early-stage technology companies with a strong emphasis on Detroit-based startups. In addition to capital, the company provides hands-on coaching, mentorship, support, and resources to help drive growth and success. Founded in 2010 by Josh Linkner, Dan Gilbert and Brian Hermelin, the firm aims to create jobs, urban density, and hope by backing the next generation of Detroit entrepreneurs.