18/03/2016

Tech specialist Blurrt secures £500,000 funding from Seedrs crowdfunding stint

Social media content and analytics specialist, Blurrt, has closed its crowdfunding round on Seedrs after reaching its £500,000 target just 68 days after the campaign’s launch. The round includes a £200,000 investment from Finance Wales.

The campaign launched as part of the company’s significant growth strategy which also saw it announce the major new appointment of former FremantleMedia Executive Simon Spalding as Executive Chairman, back in October.

Now, the firm plans to invest further in ongoing technical development to keep itself at the cutting-edge of social content discovery and analytics technology, and continue providing industry-leading insights into such things as emotional reactions, topics of conversation, audience segmentation, and gender demographics on social platforms.

Since its launch in 2013, the company has gone from strength to strength as the only platform that allows its users to both curate social content and analyse social audience data in real-time. In December, the company launched a complementary Hootsuite app that allows Hootsuite users to listen and engage with social audiences.

The company now has a significant client base, supporting clients such as GoCompare, Shotglass Media, Multiplay, BBC, and LBC to deepen engagement with their social audiences. In recent months Blurrt also provided technology to support several innovative PR and marketing campaigns including the launch of BBC Store and the 10KSA breast cancer awareness campaign in Saudi Arabia.

Other investments will include ongoing marketing initiatives for the brand in the UK and internationally as the firm continues to work on analysis of high-profile live events - having already covered the General Election and the Rugby World Cup in 2015. The investment will also see Blurrt relocate its headquarters to Cardiff and recruit four new team members.

Co-founder and CEO Jason Smith said: “It’s important that we continue to invest in the development of our product that consistently offer our clients technology which - despite its apparent complexity - is simple, fast, and efficient to use. For us, it’s integral that our software continues to improve and evolve at the same pace as the social platforms themselves.

“The quick success of our crowdfunding round is proof that the industry is hungry for a user-friendly service. This is a hugely exciting time for Blurrt as we continue to grow the business and strengthen our standing in the market.”

Executive Chairman, Simon Spalding who will lead investor relations and oversee the organisation’s long-term growth plans, commented: “Having demonstrated Blurrt’s potential to unearth new content opportunities for businesses in the broadcast, sports and entertainment space shows that the platform has uses across a huge range of sectors and is easily scalable on an international basis.

“The software has a unique ability to uncover and interrogate social data in a way that no-one else in the market can currently offer, and with this new round of investment we’re excited to get out and show more businesses just what value the tool can bring.”

Ann Casey, Investment Executive in Finance Wales’ Technology Venture Investments team said: “Blurrt has grown significantly since its launch in 2013 and its innovative social media content and analytics technology is gaining traction in the broadcast and other key sectors. 

“This funding round includes a £200,000 investment from Finance Wales and is also our first investment alongside Seedrs.  It’s a significant vote of confidence in Blurrt, its technology and the progress Jason and in his team are making.  They now have the backing they need to implement the next phase of Blurrt’s ambitious growth strategy.”

S4C was an early investor in Blurrt through its commercial arm. Elin Morris, S4C’s Corporate & Commercial Director added: “We have invested again in this round because we believe that there is a developing market for real time analysis and reporting of social media data, particularly in the broadcast sector. This funding round will enable Blurrt to invest further in developing the product in line with that growing demand”.