Artificial intelligence is nothing new that is being talked about. Since last 5 years we are into the process of developing a core infrastructure in this domain. As a result of which a lot of companies of a lot of sectors have tried their hands on it. Be it health-tech, fin-tech, ed-tech and the list is unending. Various social media platforms have also made a step in that direction.
Saturday came up with such a similar news; An AI based social media start up Circus Social announced that it was able to gain a funding of $ 1 million. The detailed information regarding it is in the article. Let’s get into it.
WHAT’S CIRCUS SOCIAL
The company was set up in 2012 as a major data analytics & data platform organization. They are basically engaged in helping businesses to take good decisions on the basis of social media & conversations through various types of dashboards & reporting mechanisms.
They track the data available publicly through social media & all Asia focused networks. This all is done through their tools like:
- 20 Twenty
- Radar (Real Time Always On Data Aggregation & Results)
- Intelligent Itinerary
- Sentiment API
- Circus Command Centre
The major partners are datastreamx, GNIP, LexisNexis and Socialgist. It has catered to more than 15 countries in general. It has more than 100 happy clients across APAC region and the figure is still growing.
DETAILS ABOUT FUNDING
The start up has raised $ 1 million in course of its Series a funding. It was pioneered by Inflection Point ventures. Other investors that were in the list were:
- Ganesh Mohan (Bajaj Finserv)
- Samit Shetty (CEO, Navi Finserve Pvt. Ltd.)
- Royston Tay & Kwok Yang Bin (Co-founders at Zopim)
- Srinivasan Venkita Padmanabhan ( Olam Group president)
The funds would be used by the start up to spread into different geographies by the medium of strengthening its sales & data sciences and get into new streams of revenue accordingly.
“Over 4 billion people are active on social media globally, collectively generating a massive amount of conversations, engagement and activity every day. Our AI powered social listening and analytics platform uses big data architecture and AI/ML algorithms to empower companies with comprehensive data and actionable insights in real time,” Ram Bhamidi, co-founder and chief executive of Circus Social said this very clearly.
Inflection Point head Mitesh Shah had a clear say that the list of clients served by the company already is quite generous and this amount would help them to make into the untapped one also. The company has made its way into AI based social media world and now will surely prove its worth.
Social Media is no more a medium to go social. It has more lucrative arenas which the businesses use to upscale their operational revenues. Sentiment analysis, chatbots, security features and many more are the elements that have been borne out of the collaboration of AI & Social media.
Studies have clearly shown that global AI in the field of social media would grow at 28.3%. machine 7 deep learning would be the key to the success of many businesses across the emerging economies.
So; this funding bagged the start up is a method to expand & serve the customers world wide.