[Funding alert] Data analytics startup Circus Social raises $1M in pre-Series A round led by Inflection Point Ventures
Circus Social, a social media media analytics and big data SaaS startup based out of Singapore and Bengaluru, has raised $1 million in a pre-Series A round led by Inflection Point Ventures and angel investors based in the US, Singapore, and India.
The angel investors include Saurabh Gupta, Ganesh Mohan, Samit Shetty, Royston Tay, Yang Bin Kwok, and Srinivasan Venkita Padmanabhan.
Founded by Ram Bhamidi and Prerna Pant, Circus Social helps brands and businesses get actionable business insights from social and digital data in real time through the use of big data, AI and ML. This startup has clients across multiple industries in over 15 countries in Asia Pacific.
Circus Social plans to use the funds for growth initiatives and to increase its sales, engineering, and data sciences teams.
“Over four billion people are active on social media globally, collectively generating a massive amount of conversations, engagement, and activity every day. Our AI-powered social listening and analytics platform uses big data architecture and AI/ML algorithms to empower companies with comprehensive data and actionable insights in real time,” said Circus Social co-founder and CEO Ram Bhamidi.
The global social and digital data analytics market is growing at 30 percent per annum. The addressable market for Circus Social has reached $7 billion. Circus Social’s SaaS platform for enterprises – its flagship offering, 20/Twenty - tracks all available data points and distils them into signals for clients, providing real data in real time.
Mitesh Shah, Co-Founder, Inflection Point Ventures, said, “Plain vanilla social marketing is passé. Circus Social’s founding teams’ understanding of AI and its use in social listening has proven its mettle, based on the numbers we have seen, thus making it a good opportunity for IPV to invest in the company.”
The funding into Circus Social is the tenth deal announced by IPV in2021. The venture fund aims to invest Rs 155 crore this year across 60-plus startups.
Edited by Teja Lele Desai