GraphEffect Raises $12 Million
GraphEffect is a service that is similar to Yammer for social media marketers. GraphEffect has raised a $12 million round of funding led by Rincon Venture Partners. Jim Andelman of Rincon will join the GraphEffect board of directors. GraphEffect’s revenue has more than tripled year-over-year. GraphEffect is going to generate between $40-$50 million this year, which is up from $12 million last year and $1.6 million in 2010 when the company was founded. GraphEffect is known as an enterprise collaboration platform social media marketers. Some of the customers they have include AMEX, Red Bull, and Toyota.
“You have media buyers, ad agencies and Facebook representatives,” stated GraphEffect co-founder James Borow. “There are too many cooks in the kitchen. We help parties across all of the organizations work together on the social media marketing initiatives.” GraphEffect is free and they only charge marketers when ad money is spent on Facebook and Twitter.
GraphEffect is partnered with ad agencies like Digitas, P&G, Oglivy, and Porter Novelli. GraphEffect will use the funding to expand to other social media platforms like LinkedIn and Pinterest and they currently have 45 employees.