You can’t fire off a tweet these days without running into some social media expert hoping to sell you advice on how best to advertise and promote your company across social media.
Clickable has mostly been running social media ad campaigns for small and medium size businesses, but it just got a fresh injection of capital from one of its biggest partners. Today Erick Schonfeld reported that AmEx has led a $12 million series C round in Clickable, with original investors like Union Square Ventures and Founder’s Fund re-upping as well.
There are a few interesting tidbits to this story which haven’t been fully reported out yet. Clickable CEO David Kidder told TechCrunch that the valuation on this financing is significantly higher than last time. But the amount of money raised actually fell, from $14.5 million in the series B, which was actually more like a Series C, given that it was the third major funding following an angel round from Roger Ehrenberg.
Mr. Schonfeld also says this funding will help Clickable push aggressively into the “nascent social advertising market.” Social advertising is young, but it’s no newborn. And while Clickable is still focused just on Facebook, with plans to add Twitter and LinkedIn, its local competitor Buddy Media just raised a much larger series D from powerhouse partners in the advertising world and has already expanded to these other social networks.
So Clickable, which isn’t profitable yet, has a big opportunity, a big challenge, and some fresh funds to play with. Hopefully they spent their Ad Week wisely.