Chartbeat Closes $7m Funding Round for Expansion
By Modupe Gbadeyanka
Content intelligence platform for the world’s leading publishers, Chartbeat, has announced that the company has closed a $7 million funding round, led by North Atlantic Capital.
The capital will enable Chartbeat to accelerate its leadership position in real-time analytics across desktop, social, and mobile platforms.
2018 has seen unprecedented traffic shifts, and Chartbeat provides media organizations with instant insights about content engagement and reader traffic — whether directly on publisher websites or from platforms such as Facebook and Google. Empowered with data, media organizations can better understand, measure, and build business value from the attention earned by their content.
“Our solid revenue growth and product expansion efforts have put us on a bright path forward,” said John Saroff, Chartbeat’s CEO. “We’re thrilled to have North Atlantic Capital behind us as we continue to scale.” Saroff added, “Chartbeat’s analytics enable publishers to connect with valuable readers and grow a sustainable business. We’ll continue to build out our core business while expanding into new areas within mobile and multivariate testing.”
Today’s investment follows a period of rapid growth for Chartbeat, whose customer base now includes the top global media, sports and entertainment brands in over 65 countries. Clients include The New York Times, The Washington Post, The Atlantic and ESPN in the US; the Economist, The Telegraph and The Mirror in the UK; Le Figaro and Le Monde in France, Unidad in Spain; Clarin in Argentina; and The South China Morning Post in Hong Kong, to name a few.
“This is a very strong team – impressively talented and dedicated to solving a real need for publishers,” said Mark Morrissette, Managing Director at North Atlantic Capital. “With such passionate customers, we see a lot of opportunity for Chartbeat to expand both within its base and into adjacent markets. This is a great fit for us.”
This late stage funding brings the total amount of money Chartbeat has raised since 2009 to $38 million. North Atlantic will immediately join Chartbeat’s Board of Directors as a board observer, along with investors and board members DFJ, Index Ventures and Betaworks, and board observer Harmony Partners.