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Social media analytics and reporting startup Simply Measured announced Tuesday that the company has raised $20m in funding, which it said it will use to expand the capabilities of its cloud-based platform and double its employee base over the next year.

Social media analytics and reporting startup Simply Measured announced Tuesday that the company has raised $20m in funding, which it said it will use to expand the capabilities of its cloud-based platform and double in size

Social media analytics and reporting startup Simply Measured announced Tuesday that the company has raised $20m in funding, which it said it will use to expand the capabilities of its cloud-based platform and double its employee base over the next year.

Simply Measured provides an enterprise-grade cloud-based analytics platform that ingests and metabolises data from a range of social media networks including Facebook, Twitter, Instagram, LinkedIn, YouTube, Google+, Tumblr and Vine.

The data can be compiled into visual dashboards that can be shared across an organisation, and used to create a range of reports.

The latest funding round brings the total amount Simply Measured has netted to $28.9m; it has 115 employees but said that it intends to double that number this year.

“This round of funding validates Simply Measured’s leadership position in the market and enables us to invest in our product and team for the long term,” said Adam Schoenfeld, chief executive officer and co-¬founder of Simply Measured.

“We’ll use this capital to scale our best¬-of¬-breed measurement and reporting solution, giving marketers more insights in less time,” Schoenfeld said.

CIOs and CMOs are increasingly competing for the same tech budgets and it’s clear that tools geared towards measuring and analysing the effectiveness of social media marketing campaigns (in addition to other big data technologies) are central to this shift.

“We see reporting and analytics as a ‘must have’ component of social media marketing and, in turn, for the broader marketing function,” said Karan Mehandru, general partner at Trinity Ventures, the firm that led the latest investment round.

“There is tremendous opportunity for further growth and we look forward to working with the Simply Measured team to help marketers leverage their social media strategy in practical and meaningful ways to improve customer acquisition, engagement, retention and support.”

It’s also clear that some tech firms are willing to spend big in order to invest in or acquire firms like Simply Measured. At the end of last year Apple bought Twitter-focused social media analytics firm Topsy for a whopping $200m, the same week rival UK-based DataSift scored $42m in funding.

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