Mike Isaac

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Analytics Outfit Socialbakers Scores $6 Million

Social analytics company Socialbakers announced a new round of funding on Monday, adding another $6 million to the company’s coffers.

The latest funding round comes courtesy of Earlybird Venture Capital, which led Socialbakers’ previous $2 million round, and from Index Ventures, which led this most recent fundraising effort.

First launched in 2009, the company offers analytics for businesses running marketing campaigns across various social media platforms. In essence, it’s a way to gauge the effectiveness of pushing out products via social tools like Facebook Pages, tweets, Google+ and LinkedIn updates (among others).

The company has expanded since receiving its $2 million capital injection in February, growing to upward of 160 employees across 10 offices around the world.

It’s not a bad space to be in, either, as similar companies have done fairly well for themselves. As my colleague Peter Kafka reported not too long ago, Salesforce acquired Buddy Media for upward of $700 million in cash and stock. The acquisition came little more than a year after Salesforce snapped up Radian6 — one of the leaders in the social analytics space — for $326 million.

Surprise, surprise — Socialbakers CEO Jan Rezab said his company will use the newfound cash to keep up its expansion efforts, and to tack on more measurement features to the existing product.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work