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Chartbeat Announces New Funding to Fuel Growth
|NEW YORK-Thursday 26 July 2018 [ AETOS Wire ]
(BUSINESS WIRE)-- Chartbeat, the content intelligence platform for the world’s leading publishers, today 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.
Chartbeat, the content intelligence platform for publishers, empowers media companies to build loyal audiences with real-time and historical editorial analytics across desktop, social, and mobile platforms. Chartbeat helps digital publishing organizations understand what, within their content, is keeping people engaged. Partnering with thousands of customers across 65 countries, Chartbeat’s real-time and historical dashboards, in-depth headline testing and in-page optimization tools, robust reporting, and APIs help the world’s leading media organizations understand, measure, and build business value from the attention earned by their content.
About North Atlantic Capital
North Atlantic Capital provides growth capital to innovative technology companies across the United States. Founded in 1986 and based in Portland, Maine, the firm is currently investing its fifth fund, which is capitalized at more than $120 million. North Atlantic targets high-growth, later-stage technology businesses with annual revenues of more than $10 million. North Atlantic has a 30-year history of supporting rapidly growing technology companies with both equity and long-term subordinated investments. https://www.northatlanticcapital.com/
Terri Walter, 646-932-7654
Lauryn Bennett, 781-635-6141
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