ZEFR, a company that helps content owners understand how their audiences interact with their content on social media sites, has raised $30 million in Series D funding. The round was led by Institutional Venture Partners (IVP), according to TechCrunch.
Existing investors US Venture Partners, First Round Capital, Richmond Park Partners, and Shasta Ventures also contributed to the financing. The most recent round brings ZEFR's total raised capital to around $60 million, the report detailed.
Co-founders Zach James and Rich Raddon said they chose to take investment from IVP because they wanted a company with a strong software. In addition, they also said they wanted an investor that focuses in Los Angeles, the report explained.
James told TechCrunch in an interview: "Rich and I are trying to build a company in L.A. and want people that believe in L.A. and have made significant investments here."
ZEFR plans to use the new capital to beef up its engineering team and enhance its product portfolio. The company also hopes to expand beyond the US next year, TechCrunch reported.
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