Umbel, which measures digital audiences, Tuesday announced that it has raised $3.7 million.
Austin Ventures led the Series A round. Other investors included Herbert Simon, Chairman and Director of the Simon Property group and owner of the Indiana Pacers, and Gordon Paddison, CEO Stradella Road, and former EVP New Media Marketing at Newline Cinema.
The Austin-based startup also announced that Paul Krasinski, the former senior vice president of digital media and analytics at Arbitron, joins Umbel as its new chief executive officer.
“Seth Goldstein, the former co-chair, IAB Social Media Committee and co-founder, joins Umbel’s Board of Directors alongside Thomas Ball, a Partner at Austin Ventures,” according to a news release.
In 2010, Meredith Maycotte, Higinio (H.O.) Maycotte, Travis Turner and Nick Goggans founded Umbel. The company began a collaboration with Arbitron in August of 2011.
“Umbel leverages social data at great scale to deliver unique insights about the people who engage with any site, service or brand,” according to a news release. “The company is currently in private beta and will be using the recently raised funds to aggressively execute on its product roadmap and further business development goals. Umbel is expected to bring its first product to market in Q3 of 2012.”
“We’re on the precipice of a new era in audience measurement where brands will demand granular data and the technology is available to deliver upon the market needs,” Paul Krasinski, CEO of Umbel, said in a news release. “It is exciting. I’m proud to join Umbel’s ambitious and talented team and extend the traditional media research principles using social and big data. Umbel has an incredible opportunity to make a large impact on the future of audience measurement.”
Umbel’s customers include the Boston Bruins, Streetwise Media and Austin City Limits.