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Blue Chip Venture Company backs Kinetic Social’s Series A round

7 May 2013

social_lrgSocial media advertising technology company Kinetic Social has held a first close on its Series A round after raising $8m from Blue Chip Venture Company and Gibraltar Business Capital.

Cincinnati-headquartered Blue Chip provided equity, while Gibraltar, which is based in Chicago, contributed venture debt financing.

Kinetic also said that it is “actively considering” several offers to expand the Series A funding round with additional equity capital.

The company’s main technologies include its machine learning optimization engine, its cross-channel data trend and analytics engine, and its self-service client platform.

Blue Chip’s managing director Mark Wright said, “Blue Chip has been watching this market for over two years now, waiting for the leader to emerge, and we feel Kinetic Social is that leader.

“Kinetic is unique in a number of ways: it is only one of several companies that can optimize social advertising campaigns across all the major social networks, and it has a distinct capability to marry that advertising with display and mobile campaigns.

“Its proprietary data-based technique for enhancing its target marketing capabilities is entirely unique and is widely regarded as the most advanced in the market.”

Blue Chip currently has $600m under management. The firm targets the enterprise software, healthcare, technology infrastructure and marketing sectors.

Back in March Blue Chip participated in a $23m Series C round for social sharing buttons maker ShareThis, which was led by Deutsche Telekom’s venture arm T-Venture.

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