Chinese private equity firm SAIF Partners has joined fellow China-focused private equity firm WestSummit Capital, as well as U.S. venture funds Thomwest Ventures and Altos Ventures, in a new round of funding worth US$15.2 million for Mountain View, California-based social media analytics firm NetBase, according to a company announcement.
SAIF Partners is a new investor in the latest round, while the other three investors have previously invested in NetBase.
Previously, the company received an initial investment of US$18.7 million for product development of its social media monitoring products in early 2012. It raised US$23 million in early 2013. With this new round, NetBase has received total investment of US$51.8 million.
The company says it will use the new investment to fund company expansion and bring more innovative social media monitoring and analysis products to market.
"This new funding will enable NetBase to accelerate the go-to-market trajectory that has already seen the company triple its size in just 2.5 years," said NetBase CEO Peter Caswell.
NetBase serves clients including AMC Networks, American Airlines, Coca-Cola, Kenneth Cole, Ogilvy,Taco Bell, Walmart and YUM! brands.
SAIF Partners, with offices in China and India, currently manages over US$3.5 billion. WestSummit Capital is based in Beijing, and focuses on tech growth capital investments. It raised US$325 million across two funds in January.
