Appinions, a marketing platform based on influencers, has secured $3 million in funding led by Difference Capital Funding. The Toronto-based merchant bank invested $2 million and is taking a 15.4 percent stake in Appinions. The additional $1 million is from individual investors.
Larry Levy, Appinions co-founder and chief executive officer, said the funds will go towards strengthening its sales and marketing team.
Appinions analyzes daily data from more than 5 million traditional and social media sources to determine the influence of any topic, brand or person. Rather than just a numerical score, the New York-based company said its platform includes contextual analysis and trends over time. Its clients include Dell, Amgen, the Economist, Materne, Conde Nast, Forbes, Edelman, iCrossing, Euro RSCG, Reprise Media, Weber Shandwick and Zocalo Group.
“This is an exciting deal for us because Appinions is a great example of how social media can be profitably harnessed to marketing and advertising,” said Mike Wekerle, DCF’s chief executive. “We have worked with the Appinions’ team in the past, and they have a proven reputation for skating ahead of the puck.”
Appinions – http://www.Appinions.com
Appinions – press release [PDF]
Difference Capital Funding – http://www.differencecapital.com