Networked Insights raises $30 million
Networked Insights has raised another $30 million to make its marketing-analytics software even more powerful.
Much of the money comes from some heavyweights in the food and beverage business: Sands Light Capital, the family office of an Arizona Iced Tea co-founder, and the Cherng Family Trust, the family office of the founders of Panda Express. Other investors include Goldman Sachs, which led previous rounds, and American Family Ventures, the investment arm of American Family Insurance in Madison, Wis.
Networked Insights uses artificial intelligence and machine learning to sort through massive amounts of online data, such as social media posts, that advertisers use to better target potential customers based on their interests.
Headcount has grown to about 80 from 57 a year ago. Networked Insights expects to
add 35 to 40 more employees this year, mostly in Chicago and New York. Much of the staff is technology talent, though the company is building out sales as the business grows. “Talent is a challenge,” he says. “You're looking for machine learning, artificial intelligence and Big Data skills that everyone else needs, too. It's hard to hire.”
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