Bluefin Labs, Inc., a social TV analytics startup, raised $12 million in a Series B round of funding. The Time Warner Investments group led the round with participation from SoftBank Capital, Redpoint Ventures, and Lerer Ventures.
Bluefin's objective is to help television networks and marketers keep track of how audiences are responding to shows via posts on social media sites such as Facebook and Twitter. Bluefin Labs said in a press release that it plans to use the new financing to accelerate growth of its sales and client services efforts. The company will also "continue to invest heavily in technology and R&D to lead further innovation in the field of social TV analytics."
Bluefin Labs' flagship product, Bluefin Signals, is an analytics platform that analyzes and organizes social media conversations about U.S. national television. The dashboard interprets the social media response to more than 11,000 TV shows and 346,000 individual airings of those shows. Bluefin Signals looks at 5 billion public-facing social media comments each month and then pairs those comments with more than 2.5 million minutes of linear TV time.