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NEW YORK — Curalate, a solution that provides a comprehensive overview of brand engagement on socially curated Web sites such as Pinterest, will launch today.
The platform is the first start-up in the social curation space to receive funding — $750,000 to be exact, from NEA, First Round Capital and MentorTech. Curalate is able to help brands benefit from all the action that’s happening around new social mediums, according to co-founder and chief executive officer Apu Gupta.
“The biggest fans are pinning images, and brands want to connect with those advocates — but they didn’t have an easy way to do so. We aim to help them connect and form better relationships with fans,” Gupta said of the technology, which is able to recognize images and that in turn helps partner brands understand, track and report engagement.
The tool allows participating brands to see all its vital numbers at a glance, which include how many people have engaged, how many times they’ve engaged, what products are top of mind for people, how much traffic is being sent from Pinterest back to a brand’s Web site, who the biggest brand advocates are, how many tweets are coming from Pinterest about a brand and even provides a calendar to assess which content was responsible for increased user engagement.
Currently, about 150 firms are working with the tool, including Bergdorf Goodman, Neiman Marcus, Birchbox and Warby Parker. The solution is meant to simplify the information gathering experience. Available via a monthly subscription, Curalate is only compatible with Pinterest for the time being, but Gupta said he hopes to extend this service to other socially curated sites like Polyvore and The Fancy.
Shenan Reed, co-founder and chief media officer of Morpheus Media, a Createthe Group company who began using Curalate in its beta form about a month ago with clients Bergdorf Goodman and Neiman Marcus, contends that Curalate is likely to have an impact on brand’s understanding this space — which until now has been considered uncharted territory. “Granted it’s only working with Pinterest at the moment, but the implications of what it can do because of its image recognition technology are tremendous,” Reed said.
Reed noted that although it’s not the same direct correlation that one would look for in terms of measuring ROI, Curalate delivers relevant information to help partners track, see and understand exactly where fans are learning about a brand.