Los Angeles software developer GraphEffect on Thursday said it has raised $12 million to expand its business for social marketers.
Money from the financing primarily will be used to expand development and product teams. The equity and debt financing was led by Rincon Venture Partners. Jim Andelman of Rincon will join the board of directors.
GraphEffect products enable social marketers to integrate and manage their marketing programs on a single platform. Companies and agencies use the software to coordinate efforts and measure the bottom line impact of marketing efforts, the company said.
“The biggest problem in social marketing today is a lack of communication, coordination and transparency between brands, agencies and their vendors,” said Chief Executive James Borow in a statement. “In order for this space to reach its full potential, marketers need a connective layer between paid, earned and owned media.”
GraphEffect was founded in 2010 by Borow and Clark Landry. Venture capital backers include Lerer Ventures, Thrive Capital and Founder Collective. In addition to Los Angeles, the company has offices in New York and Chicago.