newBrandAnalytics Raises $26 Million in Series B Funding NEA Leads Round, Joined by Strategic Investors across Hospitality, Restaurant and Retail Sectors
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WASHINGTON, DC (November 11, 2011) newBrandAnalytics, the world’s largest provider of business intelligence from social media customer feedback, today announced it has closed $26 million in Series B financing to further accelerate the company’s rapid growth and customer acquisition. New Enterprise Associates (NEA) led the round, with participation from Revolution Ventures (Steve Case & Tige Savage), Jeff Webber’s The Entrepreneur’s Fund, Barry Sternlicht (Founder, Starwood Hotels) and Neil Shah (President & COO, Hersha Hospitality Trust) of SS Future Fund, Quest Hospitality Ventures, and Ted Leonsis.
“nBA has transcended the listening platform category and is pioneering a new arena of social business intelligence,” said Harry Weller, General Partner, NEA. “Their technology goes beyond simple social metrics and generates industry specific customer insight through operational categories that really matter to business, like service performance, employee feedback, and product quality. This type of insight is mission-critical for any business, especially service providers.”
The newBrandAnalytics social intelligence products are being used by thousands of hotels, restaurants, retailers, and leisure companies worldwide. Its flagship product, Social Guest Satisfaction™, harvests credible customer feedback from an array of social media sites. Using patent-pending algorithms, it then interprets, qualifies, and categorizes each customer mention in order to generate comprehensive performance metrics and actionable findings.
“This expansion capital validates newBrandAnalytics’ approach as the most effective way to make sense of all the customer feedback from social media now available to businesses,” said Neil Kataria, Co-Founder of newBrandAnalytics. “The Internet is becoming a giant customer survey and as this new feedback channel emerges, we will use this capital to further accelerate our growth and to ensure the delivery of the market’s most powerful solutions to our customers.”
newBrandAnalytics was founded by Neil Kataria, Kam Desai and Ashish Gambhir, pioneers in business intelligence, social media, and customer experience. Through their past experiences in local merchant operations and consulting, the founding team carries a unique and focused vision for the future of social media customer feedback.
“The nBA team has done a phenomenal job of creating an organization that provides its customers with the advantages not only of closely tracking the pulse of social feedback, but of delivering immediately-actionable information to improve the guest experience in response to that feedback,” said Tige Savage, President of Revolution Ventures.
newBrandAnalytics is the leading provider of social business intelligence solutions, providing unmatched guest satisfaction, customer intelligence, and competitive insight for the Hospitality, Restaurant, Retail, Healthcare, and Sports/Entertainment industries. newBrandAnalytics’ flagship and enterprise grade product, Social Guest Satisfaction™, enables customer satisfaction-focused organizations identify key insights from guest feedback. newBrandAnalytics insight is proven to yield operational improvement, enhanced marketing opportunities, and new strategic initiatives that drive increased revenue and guest count.
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $11 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 170 portfolio company IPOs and more than 290 acquisitions, including investments in technology leaders like Data Domain, CareerBuilder, Diapers.com, Groupon, Juniper, Macromedia, Playdom, Salesforce.com, and TiVo. In the U.S., NEA has offices in the Washington, D.C. metropolitan area; Menlo Park, California; and New York City. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.