Cymfony's media analysis solutions, Cymfony Dashboard and Digital Consumer Insight (DCI) are experiencing tremendous acceptance and adoption among leading corporations around the world, helping marketers guide communications and marketing strategies. This demand for solutions to monitor and analyze consumer-generated media drove the company to expand aggressively and seek additional funds.
"Cymfony will use these funds to expand offerings for the dynamic $6 billion dollar marketing research sector driven by the explosive growth of consumer-generated media, viral marketing and word of mouth marketing," said Cymfony CEO Andrew Bernstein. "We also will also make a substantial investment in global sales and marketing and consider strategic acquisitions. Ascent provides vital experience and expertise as Cymfony expands the reach and impact of its services and solutions."
Cymfony's solutions also help corporations measure, track and analyze reputations across a broad range of media. This includes consumer-generated media such as blogs, message boards and online usernet groups, as well as traditional media. Cymfony's proprietary natural language processing technologies monitor media coverage in real time, benchmark performance and compare company brands against competitors. Cymfony also provides qualitative and predictive market research and analysis to brand managers, market researchers and marketing and communications professionals to identify and stay ahead of industry trends.
"The enthusiasm for Cymfony's solutions among the company's customers, partners and employees is truly compelling, and a good predictor of future success," said Chris Lynch, Partner at Ascent Venture Partners who will be joining Cymfony's Board of Directors. "We believe there is a significant opportunity for Cymfony to provide corporations with customized yet easy-to-use solutions that address critical business issues, such as the influence of the blogosphere and the need to measure marketing ROI. We are excited to join forces with Cymfony's Board of Directors, management team, employees and partners in delivering a powerful technology solution that is rapidly becoming a must-have business intelligence tool at Fortune 1000 companies."
Cymfony has enjoyed dramatic growth - including a tripling of its customer base - as the emphasis in the areas of business intelligence and market research has increased. Going forward, Cymfony plans to make additional investments and expand its offerings to provide current and future users with new analytics to correlate external sales and industry data.
About Cymfony, Inc.
Cymfony is an award-winning media measurement, market research and business intelligence company providing software and services to leading corporations throughout the world. The Cymfony Dashboard series of solutions are used to measure, analyze and manage global brands and understand perception from both traditional and consumer-generated media including blogs, messages boards, usenet groups and forums. Cymfony's business intelligence solutions are powered by Cymfony's InfoXtract(TM) technology, a leading advanced information extraction and analysis engine used by United States government and intelligence agencies. For more information or to schedule a demonstration of Cymfony Dashboard or Digital Consumer Insight, contact Cymfony at (617) 673-6000 or visit the web at http://www.cymfony.com
About Ascent Venture Partners
Since 1985, Ascent Venture Partners has been dedicated to partnering with seasoned management teams to build successful technology companies. Investments are sized from $2 to $8 million and focused on the New England and Mid-Atlantic regions. Ascent seeks to be actively involved, offering sound strategic advice, leveraging its broad network and working patiently with portfolio companies to overcome challenges. Ascent takes pride in the number of entrepreneurs who return to work with the Ascent team on multiple investment opportunities. Ascent has raised four venture funds totaling $400 million and has invested in over 80 companies, including a number in the data analysis and marketing technology sectors. For more information, visit www.ascentvp.com.