Steamboat invests China's Gridsum Technology for online analytics
Steamboat Ventures, the Walt Disney-affiliated VC firm, has led a Series A funding round for Gridsum Technology, a Beijing-headquartered online web, video and search analytics company, for an undisclosed amount.
Gridsum Technology, selected in 2007 by Microsoft as one of China's most innovative startups as part of its "BizSpark One" program, uses cloud-based services to track and optimize online marketing campaigns. Steamboat Senior Principal Perry Chui and MD Alex Hartigan will join Gridsum's board as part of the deal.
The company will use the funding to build out its platform in the PRC as well as other international markets, including the US. According to Gridsum, customers already include Coca-Cola, Lancome and Microsoft itself, as well as China's CCTV and Shanghai Media Group.
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