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Origin Ventures and Leo Capital betting on social media distribution platformSway, which operates a social media content distribution and communications platform called Shoutlet, has raised $2 million in Series A funding. The round was co-led by Origin Ventures and Leo Capital Holdings. Sway previously raised a $1.2 million seed round back in 2007.
Shoutlet is a social media distribution platform. It enabables users to distribute content to social media oriented sites like YouTube, Facebook, MySpace, Dailymotion, Twitter, and several others. Once the content is distributed across these sites, Shoutlet tracks them to measure how effective the marketing efforts turned out to be, so analytics like impressions, engagments and influences of the content.
Chicago-based Shoutlet said in a blog post it is adding new companies weekly including American Family Insurance, Solo, Cannondale and others. Jason Weaver, CEO of Sway said in a statement that, "recent studies have shown that about 85% of companies are planning to increase spending on social media efforts in 2010, and our recent growth is an indicator of that."
Sway said it would use the funds to "enable its growing list of Shoutlet clients to achieve even greater success through managing and coordinating all of their social media communications," so basically improving its platform.
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