Chinese Social Media Monitoring Firm Raises Investment
SocialTouch, one of the many startups in China trying their hand at monitoring Chinese social media, has raised its latest round of investment.
The company's Series C investment round was led by Sierra Ventures and included existing investors GGV Capital and Legend Capital. This new round of funding will be used for product development and customer acquisition. But the company did not state in its press release the amount of capital raised.
Founded in 2011, SocialTouch claims to be the largest player in China's enterprise social media management space. However, the company follows in the footsteps of similar China-based media monitoring and social media distribution companies such as SinoFile, which was acquired by Media Monitors in 2009; BDL Media, which was acquired by U.S.-based Vocus in 2010; and CIC Data, which was acquired by WPP in 2011.
SocialTouch says it helps companies launch social marketing campaigns across all the dominant social networks in China, such as Sina Weibo, Wechat, and Renren.
SocialTouch also says it is currently the only vendor in China that provides a complete end-to-end solution for both large enterprises and SMEs. However, there are dozens of companies already doing this in China, including the aforementioned acquired businesses.