PeerIndex, a service started by a former Reuters (NYSE: TRI) and Economist journalist to measure Twitter users’ influence in topics, is taking on its first full round of venture funding.
The $3 (£1.9) million round comes led by Antrack Capital and previous backer Anthemis Group but includes former Thomson Reuters CEO Tom Glocer, former Activebuddy CEO Stephen Klein, Restoration Partners’ Ken Olisa and angel investor Sherry Coutu.
Founder Azeem Azhar says he is taking the money to build a “commercial model”, an audience for its PeerPerks method of connecting brands to Twitter users and generally to build up its ranking algorithm.
Like Klout, PeerIndex assigns a score to Twitter users based on how and who they influence, and understands users in order to segment the product. It has struck media partnerships over the last year to showcase how it can elucidate “top tweeters” in various verticals.
Azhar was formerly Reuters’ innovation head and has himself been an investor.
The theory goes, some companies out there want to know who the top tweeters are in their field in order to reach influencers with their messaging.