Online consumer intelligence and social media listening platform Brandwatch has been acquired by Cision, best known for its media monitoring and media contact database services, for $450 million, in a combined cash and shares deal. TechCrunch understands Brandwatch’s key executive team will be staying on. The move combines two large players to offer a broad range of services, from PR to marketing and online customer engagement. The deal is expected to close in the second quarter of 2021.
Cision has a media contact database of approximately 1 million journalists and media outlets and claims to have over 75,000 customers. Brandwatch applies AI and machine learning to the practice known as “social listening”.
Along the way, Brandwatch raised a total of around $65 million. It was Series A-funded by Nauta Capital, followed by Highland Europe and then Partech.
In a statement, Giles Palmer, founder, and CEO of Brandwatch said: “We have always built Brandwatch with ambition… Now is the time to take the next step – joining a company of significant scale to create a business and a suite of products that can have an important global impact.”
Abel Clark, CEO of Cision said: “The proceeded with computerized move and broad appropriation of web-based media is quickly and in a general sense changing how brands and associations draw in with their clients. This is driving the basic that PR, showcasing, social, and client care groups completely fuse the remarkable experiences now accessible into purchaser drove procedures. Together, Cision and Brandwatch will help our customers to all the more profoundly comprehend, associate and draw in with their clients at scale across each channel.”
Brandwatch has been on a nearly contextual analysis of an excursion from raising support to obtaining to a consolidation, however less distinctively for an all around subsidized tech organization, it did quite a bit of it from its old neighborhood of Brighton, on the southern shoreline of England.
The financing venture started for Giles Palmer, with heavenly messenger subsidizing in 2006. In 2010 Brandwatch raised $1.5 million from Durrants, a promoting and PR firm, and a Series A round from Nauta Capital. In 2014 it brought $22 million up in subsidizing in a Series B round drove by Highland Europe. That was trailed by a $33 million Series C financing drove by Partech Ventures in 2015.
With the stash, it proceeded to obtain BuzzSumo in 2017, a substance showcasing and influencer distinguishing proof stage, for an undisclosed aggregate. Also, in 2019 Brandwatch converged with a comparative business, Crimson Hexagon, making a business with around $100 million in ARR. It additionally obtained the London-based SaaS research stage Qriously.
Brandwatch was as of late named a pioneer in Forrester’s guide for purchasers of social listening arrangements.
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