Online reputation monitoring firm Visible Technologies has secured another round of financing, with ad giant WPP putting more money into the business.
The US company said it would use the $12m in Series B funding to "better serve its expanding customer base" and develop its existing TruCast and TruView products.
WPP, which bought 25% of Visible last year for $3.5m, and formed a strategic partnership to provide the firm’s services to its clients, participated in the funding, with Ignition Partners as the lead investor.
Visible's technology allows companies to monitor and analyse their corporate reputation on the web, as well as providing an interface through which they can engage with blogs and forums when an issue needs addressing.
In a statement, CEO Adam Selig (who we interviewed last year) said:
“Our clients are looking for solutions to help them understand the social media space and participate in relevant communities as a way to enhance the value of their brands.
“We are excited to welcome Ignition as an investor in Visible Technologies and are honored to have WPP continue its investment in our solutions.”
Related research: Online PR Roundtable Briefing September 2007