Visible Technologies, which helps companies track what people are saying about them online, has raised $22 million in a third round of funding led by new investor Investor Growth Capital; existing investors Centurion Holdings, Ignition Partners, In-Q-Tel and WPP also participated. The new funding means that the company will have now raised more than $40 million since its start in 2003. Earlier this fall, Visible Technologies was in the spotlight when it announced it had raised an undisclosed amount of funding from the C.I.A’s strategic investment arm, In-Q-Tel, raising questions about how the C.I.A was monitoring online chatter on social networking sites.
Visible Technologies says it will use the new cash to fund an international expansion and also to “further strengthen its technology platform.” The company is also announcing several hires, including Kelly Pennock, the former president of analytics at First Data Corp., who is joining Visible Technologies as CTO.
The company is in a crowded market, competing with a number of players, including
BuzzLogic and Nielsen’s BuzzMetrics service. There’s also been an inflow of venture capital cash into the social media monitoring space lately with Scout Labs and Collective Internet both recently raising rounds. Corrected: A spokeswoman tells us that BuzzLogic is no longer in the buzz monitoring space and is instead using its software as an “ad targeting platform to optimize advertising across peer media/blogs.”
More in the release.