Blurrt closes £500K crowdfunding round
Social media analytics specialist Blurrt has successfully raised £500,000 through crowdfunding platform Seedrs.
The firm launched its investment campaign in October 2015 and raised £300,000 within just a few days. It’s now reached the full £500K goal.
Finance Wales has also made a £200,000 investment in the company. Blurrt plans to invest further in technical development to ensure its platform continues to grow.
Investment will also be made towards growing the brand right across the UK, and it has plans to relocate its headquarters to Cardiff and to hire four new members of staff.
Last year, it appointed a new chairman, former FremantleMedia executive Simon Spalding. Previously a board member, he’s now shaping strategic decisions and overseeing growth plans.
Launched in 2013, Blurrt lets companies curate social media content and analyse social audience data in real-time. In December, it launched an additional Hootsuite app.
In just a few years, the company has grown a respectable client base. It works with the likes of GoCompare, Shotglass Media, Multiplay, the BBC and LBC to help deepen their social media engagement.
Jason Smith, co-founder and CEO of Blurrt, said: “It’s important that we continue to invest in the development of our product that consistently offers 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’ll lead investor relations and oversee growth, said: “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 at Finance Wales, 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.”