Reston, Va. – Resonate, a Reston-based developer of audience targeting technology, said on Wednesday it has raised more than $20 million in its second round of funding, led by Revolution Growth, the DC-based investment firm created by AOL co-founder Steve Case and Wizards and Capitals owner Ted Leonsis.

Previous backers Greycroft Partners and iNovia Capital also took part in the round, which the company will use, in part, to launch a new big data tool for political campaigns and corporate marketers.

Leonsis will join the company’s board and help lead its new efforts. “Resonate is ready to deliver something that Twitter and Facebook cannot: values-based insights into why consumers buy what they buy, and why voters back the candidates they support,” said Leonsis.

Founded in 2008, Resonate uses an array of online surveys and data analytics tools to help companies better target their ad campaigns based on otherwise unidentifiable consumer values. The company also raised $5 million in 2010 in a round led by iNovia Capital and Greycroft Partners.

This article was also published in Potomac Tech Wire.

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