Tuesday, April 17, 2012

Umbel Finds $3.7M

Austin-based Umbel, a developer of software that measures audiences for publishers, agencies, and advertisers, has raised $3.7M, the firm announced Tuesday. The funding was led by Austin Ventures. Along with the funding, Umbel said it has hired Paul KRasinski, the former SVP of Digital Media and Analytics at Arbitron, as its new CEO. As part of the funding, Seth Goldstein, co-founder of Turntable.fm, has joined its board, as has Thomas Ball, who is at Austin Ventures. Umbel was founded by Meredith Maycotte, Higinio (H.O.) Maycotte, Travis Turner and Nick Goggans. Umbel's software uses big data from social sites and other sources to provide better audience demographics and information to advertisers. The firm said it is working on its products, with target to deliver its first product to the market in Q3. More information »