Salorix has managed to raise US$ 3.5 Mn (@17 Crores) from Inventus Capital Partners and Nexus Venture Partners (NVP). Salorix is a Social media marketing and analytics firm & is currently developing a new platform for social media campaign management.
Founded in 2009 this US Based company manages Social Media Engagement campaigns for the brands & offers a social marketing platform which enables brands to setup campaigns. The campaigns are backed with analytics to scale & track them in a single user interface. The platform currently offers it services through multiple social networks like Facebook, Twitter, LinkedIn, YouTube, and other websites / blogs.
This is not the first time Inventus Capital Partners have raised funding. Earlier, this year it was speculated that ICP will make an investment in redBus. Few day later, the speculation were true when redBus announced that it received funding of $6 million along with Helion and Seedfund. Inventus Capital Partners also invested Rs. 3 crore in FundsIndia.com an online value-added financial services platform.
“Investments from Inventus and Nexus, two leading firms with a history of promoting investments in pioneering technologies in emerging marketplaces, will enable us to advance our technology development efforts and provide our customers with comprehensive and expanded solution sets for managing their social media campaigns effectively.” said Santanu Bhattacharya, CEO of Salorix.
Meanwhile Kanwal Rekhi, MD with Inventus Capital Partners added, “Brands need to follow their customers, who today are flocking to social media en masse. This can be attained by listening to and influencing the buzz about them, as social media has become a holy-grail. Salorix is emerging as a leader that is enabling brands to do just that.”
Salorix has confirmed that the funding will be utilized to further develop their technologies & algorithms.