Crimson Hexagon secures $20m social data analysis war chest
Crimson Hexagon has raised a $20m war chest to help the firm grow its social data analysis capabilities amidst an increase in demand for its work over the past year.
Specialists in deriving consumer insights from social media data the cash follows a $20m funding round led by Sageview Capital and will be used to expand its global sales, marketing team and infrastructure.
Crimson Hexagon has benefitted from a 75 per cent increase in its customer base over the past 12 months to 10,000 active users.
Dean Nelson, partner at Sageview Capital, said: “Crimson Hexagon is a true market leader with a tremendous customer list and is now positioned to expand its core capabilities to accelerate growth. Sageview provides growth capital to leading companies with demonstrated success and large market opportunities. We look forward to working with Crimson Hexagon as the company continues to dominate a growing market and delivers a strong return on investment for its customers.”
Stephanie Newby, CEO of Crimson Hexagon, said, “We have completed a critical check list: a first-class experienced team, robust technology that is easy to use and a client base hungry for more: more data, more analytics, more insights. With this foundation and with Sageview Capital as our partner in this next important step, Crimson Hexagon is ready to extend its market leadership position.”