MOUNTAIN VIEW, CA -- (Marketwire) -- 06/19/12 -- In the news release, "NetBase Announces $18.1 Million Expansion Round," issued earlier today by NetBase, we are advised by the company that in the first paragraph, it should read "Thomvest Ventures" rather than "Thomson Ventures" as originally issued. Complete corrected text follows.
NetBase Announces $18.1 Million Expansion Round
MOUNTAIN VIEW, CA -- June 19, 2012 -- NetBase, the Enterprise Social Intelligence (ESI) Platform company, today announced an $18.1 million expansion round from Thomvest Ventures, Altos Ventures and Tran Ventures, among others. With the latest capital, the company will focus on the global expansion of enterprise deals and continue to execute on sales and services.
"Social intelligence is no longer a nice-to-have for companies, it's a must-have," said Peter Caswell, CEO of NetBase. "The market is rapidly evolving and enterprises are realizing that business intelligence on its own is not enough. We've seen an increased adoption of our social intelligence platform, and will continue to expand our services and global presence to meet the needs of customers worldwide."
The social web has created a fundamental shift in the development of consumer attitude and beliefs about products, services and brands. Businesses who once functioned by a B2C (Business-to-Consumer) or B2B (Business-to-Business) model now struggle with the speed and scale of social networks, leading to a new C2B (Customer-to-Business) model where customers guide brand perception. NetBase recently joined forces with SAP to address this shift and deliver social media analytics to global enterprises.
"NetBase has a great team that is bringing the business value of social media to enterprise companies," said Don Butler, managing director of Thomvest Ventures. "Enterprises are using NetBase to drive responsiveness to customers and in turn increase their business ROI. We're excited to be a part of this round and to see the company's continued growth and success."
NetBase, the C2B Company, delivers the enterprise social intelligence platform that global enterprises use to monitor, understand, and engage with customers in real time. Using a high-precision natural language processing (NLP) engine combined with text analytics and machine learning, our platform processes billions of social media posts to extract structured insights delivered via customizable dashboards. Our solutions enable marketing, public relations, market research, customer service, sales, and product innovation leaders to craft winning strategies faster. Clients include Coca-Cola, Kraft, HP GfK and J. D. Power & Associates. NetBase powers the weekly Sentiment Tracker in the Wall Street Journal and our solutions are sold globally by SAP AG. For more information, visit www.netbase.com, @NetBase, on Facebook page, LinkedIn, or YouTube.