Overtone, Inc. Raises $7 Million in Series C Funding Round

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Overtone™, Inc., a leading provider of integrated listening systems that deliver real-time customer intelligence to major consumer brand companies, announced that it has closed a $7 million Series C round of funding led by ABS Ventures and Dolphin Equity Partners.

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Overtone™, Inc., a leading provider of integrated listening systems that deliver real-time customer intelligence to major consumer brand companies, announced that it has closed a $7 million Series C round of funding led by ABS Ventures and Dolphin Equity Partners. Overtone plans to use the funds to grow its customer base, expand its professional services organization and continue to develop new software features and capabilities.

“We’re delighted by the continued support of our long-time investors and their belief in our dedicated team and the strength of our products,” said Craig Brennan, president and CEO of Overtone, Inc. “Our customers are brand name leaders in their markets. The latest funding enables Overtone to further expand our services offerings to help our customers get to the next level in their customer listening programs in addition to paving the way for innovative advancement of our OpenMic listening system.”

Q1 2010 Yields Continued Acceptance of Advanced Customer Listening Systems

The company also announced that the first quarter of 2010 represented continued company growth and sales momentum due to accelerating demand for its integrated online listening system that deliver real-time customer intelligence from unstructured consumer-generated content.

Significant milestones for Overtone include:

  •     Signed new customers in the travel and hospitality and consumer packaged goods industries.
  •     Signed several contract renewals and expanded services agreements with major OpenMic customers including Yahoo! And Microsoft.
  •     Expanded Overtone professional services group.
  •     Overtone partnered with Mindshare Technologies to provide social media analytics for users of their customer survey solutions.
  •     Launched OpenMic GameVoice social media report for the video game industry.

“We’re pleased with the growing awareness by major consumer brands about the benefits of online customer listening programs to understand and learn from the voice of their customers,” said Craig Brennan. “For example, one of the world’s largest consumer packaged goods companies and a Top 3 hotel chain signed contracts for OpenMic to analyze and report on customer comments across online social media communities. We’re also happy to report that existing customers are not only continuing to use OpenMic to monitor direct customer feedback but are expanding services to include our social media solution as well.”

Growth in Professional Services Group

In January, Eric Zankman was appointed Senior Vice President of Professional Services of Overtone to support the company’s fast-paced growth. He leads all consulting and professional services efforts, including voice of the customer insight consulting services, support and account management. To accommodate expanding customer needs, Overtone has doubled the size of the professional services organization in the first three months of the year.

Launch of OpenMic GameVoice – social media report for the video game industry

In March, Overtone introduced OpenMic GameVoice (http://www.gamevoicereport.com), the first monthly social media report to analyze millions of consumer conversations from popular online video game communities, providing actionable insights to marketers, producers, designers and retail category managers.

Agreement with Mindshare Technologies

Overtone signed a joint referral agreement with Mindshare Technologies to provide an integrated social media listening system for users of their customer survey solutions. Overtone will provide joint clients with complete, best-of-class solutions to gain actionable insights from all customer feedback channels, including customer surveys and diverse social media sources.

About Overtone, Inc.

Overtone, Inc. delivers real-time customer intelligence to many of the world’s leading consumer brand companies including Microsoft, Yahoo!, eHarmony, and Continental Airlines. Overtone’s OpenMic integrated listening system extracts actionable intelligence from unstructured customer-generated content. Overtone is funded by top-tier venture capital firms Dolphin Equity Partners and ABS Ventures. For more information, visit http://www.overtone.com.

Media Contact: Stephanie Aldrete, Overtone, Inc.; Phone: 415.814.0495.

Overtone, GameVoice and OpenMic are trademarks of Overtone, Inc. All other company names and product names are properties of their respective owners.

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Stephanie Aldrete
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