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UK social media, big data start-up gets £1m investment

New World Private Equity and Charlotte Street Capital are both putting up the cash

UK-based social media, big data company Likely has secured £1m in new funding to help it expand.

New World Private Equity (NWPE) and Charlotte Street Capital have ploughed the cash into the Silicon Roundabout-based social data analytics provider.

Founded in 2011, Likely says it has already been involved in projects with the likes of Coca-Cola and the British government to develop their presence on Facebook, for instance.

Likely says it has created a data set of more than five billion social interactions - such as follows, shares and comments - to help better understand how people "cluster around things they are passionate about".

By looking at brands as a collection of "passion points", Likely says, it is significantly easier to discover the people that are most likely to engage with a brand's content, understand what content will resonate most with them, and attract them to a brand's social media presence.

Daniel Shore, CEO of Likely, said: "Brands are currently getting social completely wrong. Their content is all 'me, me, me' and pays little attention to what their audience actually wants to hear.

"We are turning this model on its head by understanding what an audience already gets excited about and aligning the brand acquisition strategy and messaging with those topics."

The £1million investment will enable Likely to expand its sales and marketing efforts internationally and to help build its product development team in the UK. Stephen Altman from NWPE and Bo Pedersen from Charlotte Street Capital will both join the board of Likely.

Technology, media and telecoms companies have acquired more office space in the City of London than firms in the financial sector during 2012, according to the latest figures from Knight Frank Research.


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