Collective Intellect, a provider of social media monitoring services for businesses, has raised a $6.6 million second round led by Grotech Capital, with participation from past backers Appian Ventures and Croghan Investments and new investor Crawley Hatfield Capital. The company first raised $2.6 million in 2006, for a total raise of $9.2 million. There are a lot of companies offering some variation of this service: tracking blogs and social nets for business intelligence purposes. Boulder-based Collective Intellect has specifically targeted the financial services industry, promising to help make better investment decisions by harvesting news before it's publicly known. In this respect, it sounds similar to NYC-based Monitor110, and other companies promising to harvest internet content into actionable investing data. Release.
By Joseph Weisenthal