CHICAGO--(BUSINESS WIRE)--Networked Insights today announced that it raised $30 million in growth funding, in a round led by Sands Light Capital and the Cherng Family Trust. The company will use the funding to expand its deep learning and artificial intelligence capabilities, fuel international expansion, drive new partnerships and acquisitions, and continue scaling marketing and sales operations.
Networked Insights has raised $80 million to date, with continued investment in this round from Goldman Sachs, American Family Ventures, 4490 Ventures, Kegonsa Seed Fund and additional private investors. The company’s customers include over 200 leading brands and their agencies, including the world’s largest media buying agency GroupM.
“We are pleased to bring on new strategic investors who have strong entrepreneurial backgrounds as founders to help us develop into our next growth phase. As global leaders in CPG, they provide a deep understanding of how to use customer data strategically,” said Networked Insights CEO Dan Neely.
According to Networked Insights research, only 1% of what customers care about in their online conversations revolves around brands, yet marketers typically spend about 75% of their budgets trying to influence those conversations.
Brands and agencies use Networked Insights’ platform Kairos, which uses artificial intelligence to gain a more holistic view of people’s lives, so they can develop campaigns that are genuinely relevant to consumers and far more effective.
“10 years ago, we started a journey by training machines to answer questions that were impossible to answer via any other method. From there the intelligence has evolved into a single system for understanding what’s relevant to a person’s life - from predicting what movies they like, to who they might vote for, to which spokesperson might resonate with them. This investment will help us take another leap forward with that intelligence, allowing us to bring several powerful new AI products to market this year,” says Neely.
About Networked Insights
Networked Insights is transforming the way marketers connect with people. Our SaaS analytics platform Kairos uses artificial intelligence and machine learning to understand what is relevant to people, so that brands and agencies can find their ideal audience, understand what content they care about, and target them with the right media. Learn more about us online at www.networkedinsights.com.