SANTA MONICA, Calif., Feb. 3, 2011 /PRNewswire/ -- Focused Labs, a leading provider of social media marketing services, announced today that it has closed a $2 million round of funding, and will be rebranding as GraphEffect. Investors in the round include CrossCut Ventures, Rincon Venture Partners, Founder Collective, Baroda Ventures, Lerer Ventures, Thrive Capital, and angel investors including Matt Coffin (founder of LowerMyBills) and Stephano Kim (President of x+1).
GraphEffect, who is participating in the Facebook Advertising API beta program, helps brands and agencies leverage Facebook advertising to increase "likes" and acquire new customers. GraphEffect's social advertising platform uses a set of social performance algorithms to target Facebook ad campaigns that increase user engagement on Facebook fan pages and increase downstream conversions within the Facebook feed.
The company, co-founded by Southern California entrepreneurs Clark Landry and James Borow, achieved profitability in 2010 and will use the capital raised to expand its sales and technology divisions.
"Over the past year we have driven millions of new fans and customers for our clients. Our goal from day one has been to become the leaders in the social advertising space, and we are confident in our ability to achieve this with the help of our new partners," said James Borow, CEO of GraphEffect. "We are thrilled to have attracted capital from such a diverse and well-regarded syndicate of investors," added Clark Landry, Executive Chairman of the company.
"James, Clark and their team have done an outstanding job of ramping up the business over the last 12 months by attracting some of the best brands and agencies to their unique suite of social media advertising tools," said Brian Garrett, Managing Director of CrossCut Ventures. "The new investors are very excited to work with GraphEffect on one of the most exciting growth opportunities in the social media ecosystem."