DataSift, a UK startup that aggregates and analyses data from social media sites like Twitter, has picked up $6 million in a first round of funding. The investment is yet another vote of confidence in the demand for more data crunching in the long tail of social media content.
DataSift notes that it is only one of two companies that has a licensing partnership with Twitter to re-syndicate Twitter content through its platform. And it might be one of the only ones making money off it. The company — best known for the green “Retweet” button you get on third-party sites and Tweetmeme — was among the first to partner with Twitter to mine its data, which it does on behalf of brands, publishers, developers, and companies in financial services, among others.
This round was led by IA Ventures and GRP Partners, and DataSift says that it will be used to expand its sales and marketing effort, amid what it says is a “surge in demand” for its real-time feed, particularly in North America. It will also continue to develop its platform.
Although Twitter is how DataSift made its name, it also works with the likes of WordPress, Facebook and LinkedIn (NYSE: LNKD) to crunch and syndicate data.