US-based social media management platform Buddy Media has raised $54m in series D funding. Insight Venture Partners joined its fellow venture capital (VC) firms Bay Partners, GGV Capital and Institutional Venture Partners (IVP), all of which were existing investors, in the round.
WPP Digital, a division of the global communications company WPP, backed Buddy Media with $5m in October 2010. The investment was in addition to the initial series C round, led by IVP and including VC firms Bay Partners, Softbank Capital and Greycroft Partners, which raised $23 in October 2010.
Prior to that, Buddy Media’s Softbank-led series B round closed at $6.5 in April 2008, while its September 2007 series A round raised $1.7m from a range of angel investors. Buddy Media provides a platform for brands to attract customers through building an effective social network presence.
Buddy Media plans to expand heavily in the next year,…
