Bottlenose, a company that provides social media analytics, revealed on Tuesday that it raised US $3.6 million in seed capital funding led by FF Venture Capital. The other investors were Advancit, Transmedia and Lerer Ventures. Bottlenose will be utilizing the proceeds to further develop the company's product, marketing and hiring more workers.
John Frankel, a partner at FF Ventures, said that they have been finding startups and investing in those with growth potentials since 2001. He added that he has never seen one with the caliber of Bottlenose. Proof to this is that it has engaged numerous Fortune 100 companies "within the first few months" of being available in the market.
"The product is that compelling," he said as it allows users to spot trends in their respective industries.
He said Bottlenose, which allows users to spot trend in their industries, created a product that meets the requirements of any marketer and big-ticket companies. This is especially useful since in today's digital age, companies must always be aware of their customers and competitors.
That means "they must not only be able to identity threats and opportunities, but also act on them within minutes," he said.
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