Engagement Labs has raised $4.3 million.
The funding will be used as "general working capital," according to the Canadian company, which offers real-time social media analytics for organizations.
The Toronto-based startup also announced a partnership with Netvibes. Engagement's "evalue" product is now available to Netvibes' clients through a data bundle created specifically for competitive analysis. According to Engagement it will provide real-time conversation monitoring, measure social media performance and help brands benchmark their presence on Facebook, Twitter, and YouTube.
"In a click and without leaving their custom dashboard, Netvibes' corporate users now have the possibility to efficiently measure the ROI of their social media marketing campaigns by simply integrating our competitive analysis data bundle - powered by evalue analytics," said Paul Allard, CEO of Engagement Labs. "Using this data bundle will measure engagement, impact and reach to provide clients with the most powerful social media benchmarking tool, extremely flexible and intelligent dashboard."
"The combination of Netvibes' customized dashboards and reporting tools with the intelligent data on demand capabilities offered through evalue analytics will provide our clients with a broader set of metrics to evaluate their brand's social performance, boost engagement and increase sales," added Netvibes' CEO, Freddy Mini. "With this new addition to our dashboard, users will be able to listen even more effectively, learn more, and react even faster, using real-time information to optimize all their social interactions."
While the concept of social media monitoring and measurement is familiar to many brand managers and social media teams, effective implementation of an optimized social engagement strategy is another story, says Engagement Labs.