SocioSquare raises $325,000 funding

20 Aug,2013

By A Correspondent

 

Mumbai-based social media marketing company, SocioSquare, a division of AKG Technologies, has raised $325,000 investment from angel investors in US, UK and Turkey.  This by prevailing rupee conversion rates would mean around Rs 2 crore.

 

The company plans to use the raised investments to launch Social Media Products which will make social advertising more effective and content creation easy. AKG has developed a product on top of Facebook’s Ads Api, which is currently submitted to Facebook for the Preferred Marketing Developer Badge (PMD). It plans to roll out this product in the coming month and take it global by end-2013.  SocioSquare is recognized by investors as a SaaS (Software as a Service) company.

 

In business for two years, the Philadelphia, USA-headquartered SocioSquare currently handles social media for brands such as The Mobile Store, Zee Group (Zee Khana Khazana, Ditto TV), 99acres.com, Hokey Pokey Ice creams among others.

 

Sharing his enthusiasm, Gaurav Mendiratta, Founder & CEO, SocioSquare said, “Our vision is to help brands and marketers leverage the power of Social media. Today everyone is facing common problems of ROI from social ads as well as their content reaching a few percent of current followers/fans. We have developed two cutting edge products to solve these problems and this investment will help us take them to market.”

 

This round of investment led by Dr David Bell, who is a professor at the Wharton School and earlier advising and invested in firms like Diapers.com, which was acquired by Amazon and WarbyParker.com, which has revolutionized the internet market for prescription eyeglasses and sunglasses in US.

 

Talking about his investment, Dr Bell shared “Effective and profitable use of social media is the ‘holy grail’ for small and large firms alike, but it’s not easy to get there. That requires the kinds of modeling and analytics that the team at SocioSquare have developed. I’m very excited by the opportunity to help our clients.”

 

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