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Angel round for social media analytics company Magpie


London, February 11, 2008 - Magpie Ltd, the company behind social media analytics tool Brandwatch, announces today that it has completed a round of seed funding from existing and new investors for 0.5m. The round was led by London Seed Capital and includes a select group of business angels - all experienced entrepreneurs - who will add value to the Magpie board.

The new funds will be used to complete development of the Brandwatch product range, a powerful social media analytics tool used by brand owners, and their agencies to monitor and measure how they are perceived online, in order to improve their overall brand performance. Magpie has also earmarked funds for bringing on board a commercial director to expand Brandwatch's reach globally.

'With the online community increasingly dictating consumer behaviour towards brands, Magpie's unique Brandwatch technology provides an invaluable tool for reputation monitoring. Magpie is now strongly positioned in this high growth market, and we are particularly excited to be part of its future,' says Rob Desborough, Investment Director, London Seed Capital.

Giles Palmer, Magpie's CEO, says: 'This is an exciting, fast-growing area with plenty of opportunity to seize the high ground with technology and marketing leadership. We've set ourselves some clear, ambitious milestones before we will go back to the market for a further, larger round of funds. We are already well on track to hit these milestones.'

CONTACT: Nancy Prendergast or Kieran Miles, Tannissan Mae Communications Ltd, nancy@tannissanmae.com or Kieran@tannissanmae.com +44 (0) 20 7243 4440

About Brandwatch
Brandwatch is a social media analytics tool built to track, measure and analyse brand mentions on the web. It is used primarily by brand owners and marketers to understand their online brand strength, competitive position and topics being discussed, in order to decide how to best spread their message among influential online audiences.

Brandwatch software crawls the web 24/7 to find conversations taking place in blogs, news sites, forums and other social media. It uses a combination of highly advanced search technology and unique natural language processing to cut through the chaos of the millions of online conversations taking place every day. Extracting key topics, Brandwatch categorises them by influence and sentiment, and delivers relevant, timely, accurate information to the brand owner's desktop via a powerful dashboard.

Brandwatch's customers are leading brands including Alliance and Leicester, Sony and the Post Office. Brandwatch is developed by engineers and scientists at Magpie, a VC-funded technology company based in Brighton, UK.

London Seed Capital (LSC)
London Seed Capital is a 4.8 million co-investment fund that exclusively co-invests 50,000 to 100,000 alongside Business Angels in London and the south of England. London Seed Capital operates in conjunction with the London Business Angel network, through which the majority of the required matched business angel investment is sourced. An essential ingredient of the investment model that London Seed Capital follows includes a cornerstone business angel investor co-investing as part of the business angel syndicate with relevant skills that will be joining the company's board post completion.


Publisher Contact Information:

Tannissan Mae Communications
+44 (0) 20 7243 4440
nancy@tannissanmae.com

Company profile of Magpie (Brandwatch)
Past press releases of Magpie (Brandwatch).

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