Technology-focused growth equity firm Updata Partners has led a $10.5m financing round for shopping social media company Collective Bias.
The business, which attempts to increase interest in online products through social media engagement with shoppers, said it planned to grow its team and improve its content management platform through the Series A funding.
Collective Bias ended 2012 with its third consecutive year of triple-digit growth.
Updata general partner James Socas said, “Collective Bias’ combination of shopper marketing expertise and brand and retail experience are a powerful combination in the new era of marketing, and we look forward to helping them drive even more value and growth.”
The firms did not disclose what stake they were looking to buy or at what price.
Updata has more than $450m of capital under management, and targets equity investment of between $5m and $20m according to its website.
Copyright © 2013 AltAssets