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Collective Bias secures $10.5 million in funding.

Collective Bias, the shopper-oriented social marketing and advertising firm headquartered in Bentonville, has secured $10.5 million in funding.

Update Partners of Washington, D.C., led the Series A investment round, and the financing will help Collective Bias continue to expand and grow its technology platform. Collective Bias was founded in 2009 and now has offices in New York City, Chicago, Minneapolis, San Francisco, Toronto and London.

"We believe that social shopper marketing is the evolution of shopper media, and supplants tired traditional media like FSI's, retail circulars and digital display advertising," John Andrews, co-founder and CEO of Collective Bias, said in a statement. "This investment round provides Collective Bias with runway to extend our four year leadership role in this new media category. We will employ these dollars to robustly enhance our Social Fabric content management platform, enter new markets and grow our team."

Collective Bias uses social media channels to engage customers and uses what it describes as a "proprietary community of over 1,400 shopping-focused influencers, blending members' shopping experience and product usage through engaging stories that are published online and shared with like-minded friends and followers." That network, according to the company, provides an aggregate reach of more than 50 million people.

Tyson Foods Inc., Nestle and Smart & Final are among Collective Bias' clients.
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Author:Bahn, Chris
Publication:Arkansas Business
Date:Apr 8, 2013
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