Dubai-based social media monitoring platform Crowd Analyzer has acquired a micro-influencer marketing platform Task Spotting, it announced today in a statement to MENAbytes. Crowd Analyzer declined to share the financial details of the deal.
The announcement comes a few months after Crowd Analyzer raised $3.5 million in Series A taking their total funding to over $5 million. Task Spotting according to publicly available data has raised $1.4 million to date, with MENA Venture Investments (the fund Fadi Ghandour had launched before Wamda Capital) leading their Series A in 2015. Wamda Capital is an investor in Crowd Analyzer.
Task Spotting which is also headquartered in Dubai connects brands with everyday consumers (nano-influencers) to help them create ‘buzz’ on social media. The platform also helps brands drive reviews and test products with their target audience which it says ultimately leads to better brand perception, increased market share, and higher sales.
Both the startups were founded in 2014 but Crowd Analyzer entered the market commercially in 2016.
Crowd Analyzer uses machine learning, artificial intelligence, and natural language processing to analyze content and conversations on social media for sentiment and relevance to help brands understand how they’re doing online so they could use this data to create their social media campaigns and marketing strategy.
So what it has been focusing on is monitoring and analyzing but with Task Spotting’s acquisition, Crowd Analyzer will help brands with activation and engagement as well.
“As part of Crowd Analyzer’s strategy of assisting brands in creating actionable impact, the move enables marketers to understand and capitalize on user-generated content (UGC) and increase their brand’s share of voice by helping them drive reviews and test products with their target audience,” said the startup that’s active across 14 markets in MEA & SEA.
The acquisition, Crowd Analyzer, said will allow it to increase the reach of brands (it works with) to potential buyers.
Ahmed Saad, co-founder and CEO of Crowd Analyzer, said, “The acquisition of TaskSpotting aligns with our vision of offering a full suite of world-class services to marketers in the region. We are excited to begin 2020 with the addition of a new, effective data-driven solution. We carefully handpick all our partners with our customers in mind, as we seek to add value to their experience and enrich their user journey.”
Dirk Stevens, co-founder and CEO of TaskSpotting, who, according to Wamda is joining Crowd Analyzer as Commercial Officer, said, “Our resources empower companies to shape the social media conversations and embrace brand advocacy through word-of-mouth from people consumers trust, their friends and family. This offering fits seamlessly into Crowd Analyzer’s area of expertise which provides insights into brand perception. We are excited to be part of Crowd Analyzer’s expansion in the MENA region and beyond.”