Social marketing company Insightpool has announced the acquisition of startup Next Principles.
Describing itself as “the social relationship intelligence platform,” Insightpool aims to identify those influencing social media and work with the market to better connect companies. Insightpool, was originally a startup itself and recently announced it had raised $4 million in Series A funding.
Insightpool isn’t just about those influencing either. It searches for the audience that’s most likely to perform the action their customers want, whether it’s social media sharing, signing up for a webinar, or watching a video.
Insightpool can help companies launch their social media campaigns, or they can plug the technology into their existing social media management systems. Customers include Coca-Cola, Cox Communications, Time Warner, General Mills, DocuSign, and Demandbase.
In contrast, Next Principles “Smart Sense” algorithm claims to analyse social media data to better understand consumer intent.
With Next Principles’ product, Insightpool can help companies be more precise about driving sales, for example by targeting their efforts at consumers who are actually ready to make a purchase, stated CEO Devon Wijesinghe.
“Connecting the two of them is huge,” he said. “Marketers are getting pulled more into sales, but social has largely been siloed until now.”
The terms of the deal are yet to be confirmed. According to CrunchBase, Next Principles had raised $3.2 million in funding from investors including Birchmere Ventures.
Wijesinghe added that “Almost all” of the Next Principles team will be joining Insightpool and will remain in Silicon Valley rather than make the trip to Insightpool’s base in Atlanta. By the second quarter of this year they hope to launch an integrated product. However, they also plan to keep Next Principles available as a standalone option.
Wijesinghe said he wants to be “very acquisitive” moving forward and no doubt build on this first success.