Business, Investments

Twitter application, Social Rank raises $1M in seed round

The startup which offers a twitter application to help brands know about their engagement on Twitter, has recently raised USD 1 million in seed round, reported TechCrunch’s Anthony Ha. The round was led by BOLDstart Ventures with participation from Social Starts, Advancit Capital,, Vaizra Investments, Iowa City Capital Partners, and various angel investors..

The company aims to utilize the raised funds for growth initiatives and expanding its existing operation.

Social Rank was launched in 2012 by co-founders Michael Schonfeld and Alex Taub. The company has a unique formula to find out stats like top 10 Most valuable followers, Best follower and Most Engaged follower, etc. of a brand or individual on Twitter. It then provides a monthly report to access information such as top 100’s geographic and demographic , etc.

“We see a huge opportunity to help brands better understand, connect and track their relationships with these followers and fans. Our vision for SocialRank is to be the go-to tool for brands who want to understand, manage, engage, reward, and track the people who follow them across social networks,” said Taub.

At present, SocialRank is adopted by 5,000 brands and rolling out the competitive intelligence product through release program. In this, companies apply to use the product and reshape its direction before going into general release.

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