NEW YORK: Content analytics firm Knotch has raised $20 million in venture capital funding, the company said this week.
Knotch, which describes itself as an independent digital content intelligence platform, said it worked with venture capital firm New Enterprise Associates to raise the series B round, a process that took about three months, according to a company spokesperson.
This round’s investors were a group of media and technology executives who previously had backed the company, the spokesperson said. The money will be used to develop products, increase customer-support capabilities, and grow geographically. Knotch will also use the cash to offer more content-measurement services and help clients use the data Knotch gathers about their customers.
The company will also use the backing to expand to locations where its customers are based, including the San Francisco Bay Area, Los Angeles, Chicago, Detroit, Atlanta, and Seattle.
Knotch also said this week that it has named Hilarie Koplow-McAdams, NEA Venture partner, and Rob Norman, former chief digital officer of GroupM, to its board of directors.
Knotch was launched in 2012 by founder and CEO Anda Gansca with the goal of revolutionizing the way branded content is measured. Its early investors included Greylock, Allen & Co., Stanford University, and former Facebook U.S. sales lead Tom Arrix and entrepreneur Michael Birch.
This story was updated on January 31 with additional information.