TrendKite, the Austin-based company that measures the efficacy of PR campaigns, closed a $16 million Series D round on Friday. The company will use the funding to add to employee headcount.
Adams Street Partners led the financing, and in exchange will have their managing partner, Jeffrey Diehl, join the TrendKite board.
“This fundraise is about accelerating our company growth, while increasing R&D to fuel our product roadmap and launches, and continuing to increase our market share in a $32B marketing technology market," said Erik Huddleston, TrendKite CEO, in a statement.
Since inception in 2012, the company's customer base has doubled in size every six months, leading to an increase in revenue of more than 500 percent in the past 12 months and tripling employee headcount within the same time frame.
"It is because we are in Austin that we even got to share those growth stats to investors," said Lacey Miller, content marketing for TrendKite. "What attracts investors to Austin companies is the opportunity for early stage investment."
Miller added that Austin-born companies like WP Engine, Outbound Engine, Favor, The Zebra and Trendkite have grabbed the attention from venture capitalists to get in early with smart, strong startups in Austin.
"From our experience with this round, VCs have taken notice of the scene here, and they want in," said Miller.
This recent round brings TrendKite's funding total to more than $35 million.
Image provided by TrendKite.