Social Analytics Start-Up BackType Raises Over $1 Million
@amitchowdhry or on Google+ at +AmitChowdhry
BackType is a social analytics company that allows you to enter a URL to find out how big the website’s social media impact is. When you enter a URL, it shows the number of Twitter followers, retweets, Reddit comments, Hacker News comments, Digg comments, etc. that is related to that particular URL. The investors in the $1 million seed round was led by True Ventures, K9 Ventures, Freestyle Capital, Lowercase Capital, 500 Startups, Founder Collective, Raymond Tonsing, and several other angel investors.
BackType raised $315,000 in seed funding from True Ventures and Y Combinator. Currently BackType’s free analytics service is in private beta. They plan on making money by offering paid premium services. BackType plans on using the funding to grow their team and launch the paid analytics platform, which is expected to launch later this year.