Facebook software firm Vitrue today announced it has grabbed $17 million in a third round of funding and an a-list adviser -- Mike Murphy, former global ad sales chief of Facebook and current senior adviser to casual games giant Zynga.
The volatile social-media-marketing space is not without competition -- Buddy Media recently got $23 million in funding and Context Optional has been around for almost as long as Vitrue. Both companies work with big brands and agencies. How big is the demand? Big enough for Vitrue to plan to open offices in London, Toronto, Singapore and seven U.S. cities.
Obviously, venture capitalists believe that Vitrue is a good bet, because this last round adds up to more than $32 million in funding for the company that opened its doors in 2006 with investments from Ron Conway, an original investor in Google and Twitter. This last $17 million is led by Scale Venture Partners and Advent Venture Partners.
