Spiketrap Raises $3 Million To Help Brands Understand Consumer Engagement

by NeoTech Post

Spiketrap, an AI-powered consumer intelligence platform, closed a $3 million seed round led by Susa Ventures with participation from 645 Ventures, Pathbreaker Ventures, Oceans Ventures, WndrCo, SV Angel, Anorak Ventures, Harry Stebbings of 20VC, and strategic angels.

The company plans to use new funds to help global brands make better, more informed decisions based on audience conversations while expanding beyond games into additional verticals, such as movies, streaming television, and more.

According to the company, 90% of all data on the internet is unstructured, and brands that neglect this data are making major decisions on a fraction of total information. 

Spiketrap’s AI-powered platform enables companies and brands to understand conversations at scale in real-time, accelerating customers’ speed-to-insight and providing rich data for data-driven decision-making. Its technology can ingest massive amounts of data in real-time and contextually understand what is being discussed while eliminating spam and noise.

“As an investor, I’ve never seen a product become indispensable for the top companies in an industry so quickly,” said Leo Polovets, Co-Founder and General Partner, Susa Ventures. 

“What makes Spiketrap’s product so special is its combination of advanced natural language processing techniques with a deep understanding of the entities and terms in each industry. This pairing results in useful, specific, actionable insights in which no other product comes close. Best of all, users don’t have to write any complicated queries or learn advanced boolean algebra, as key insights are automatically surfaced.” Spiketrap is already used by the Who’s-Who of the gaming industry, and I’m excited about their expansion into other industries like movies and consumer goods.”

The company’s customers include video game publishers, developers, and streaming platforms, including Ubisoft, Bethesda, 2K, and equity research companies focused on the media and entertainment space. 

Image Credit: Spiketrap