Social analytics firm Socialbakers has acquired social media advertising company Socialbrando for an undisclosed sum.
Socialbrando’s platform and team, including CEO Mario Francesevic, will become fully integrated into the Socialbakers structure to expand the company’s current platform.
The acquisition will also help develop the Czech-based company’s new Ad Insights and Ad Analytics products, said the firm.
According to Socialbakers' CEO Jan Rezab, the new platform will measure the impact of social media ads and help find the right audience demographic – enabling marketers to see which of their target audience is being targeted by their competition.
“With our new tool, brands will be able to get a much more detailed understanding of the audience they're paying to reach in terms of what they like and want. This means that the audience will interact with the brand on a greater scale and will be more likely to buy the product,” he said.
The acquisition follows a series B round funding of $6m from Index Ventures. Founded in 2009, the company is reported to have received $8.2m total funding.
During the Olympic Games, SocialBakers launched CheerMeter, a social tool to help firms gain insight into which sports, athletes, nations and brands created the greatest buzz on Twitter.