On-line client intelligence and social media listening platform Brandwatch has been acquired by Cision, finest recognized for its media monitoring and media contact database companies, for $450 million, in a mixed money and shares deal. TechCrunch understands Brandwatch’s key government workforce shall be staying on. The transfer combines two massive gamers to supply a broad vary of companies from PR to advertising and marketing and on-line buyer engagement. The deal is predicted to shut within the second quarter of 2021.
Cision has a media contact database of roughly 1 million journalists and media shops and claims to have over 75,000 clients. Brandwatch applies AI and machine studying the apply often known as ‘social listening’.
IN a press release, Giles Palmer, founder, and CEO of Brandwatch mentioned: “We now have at all times constructed Brandwatch with ambition… Now could be the time to take the subsequent step – becoming a member of an organization of serious scale to create a enterprise and a set of merchandise that may have an essential world influence.”
Abel Clark, CEO of Cision mentioned: “The continued digital shift and widespread adoption of social media is quickly and essentially altering how manufacturers and organizations have interaction with their clients. That is driving the crucial that PR, advertising and marketing, social, and buyer care groups totally incorporate the distinctive insights now out there into consumer-led methods. Collectively, Cision and Brandwatch will assist our purchasers to extra deeply perceive, join and have interaction with their clients at scale throughout each channel.”
Brandwatch has been on an nearly case-study of a journey from fundraising to acquisition to a merger, however much less characteristically for a well-funded tech firm, it did a lot of it from its home-town of Brighton, on the southern coast of England.
The financing journey started for Giles Palmer, with Angel funding in 2006. In 2010 Brandwatch raised $1.5m from Durrants, a advertising and marketing and PR agency, and Nauta Capital. In 2014 it raised $22 million in funding in a Series B round led by Highland Capital. That was adopted by a $33M Series C financing led by Partech Ventures in 2015.
With the conflict chest, it went on to acquire BuzzSumo in 2017, a content material advertising and marketing and influencer identification platform, for an undisclosed sum. And in 2019 Brandwatch merged with the same enterprise, Crimson Hexagon, making a enterprise with round $100 million in ARR. It additionally acquired the London-based SaaS analysis platform Qriously.
Brandwatch was just lately named a pacesetter in Forrester’s information for consumers of social listening options.