Buddy Media Raises $54 Million

Gail Chiasson, North American Editor

With European expansion in mind, New York-based Buddy Media, a company that provides a service that helps advertisers manage their presence on social networks, has raised $54 million

Investors are: GGV Capita, Bay Partners, Institutional Venture Partners and Insight Venture Partners.

Buddy Media plans to use the financing to fuel expansion in Europe and double the size of the company’s staff. Including funds raised earlier, the company’s total funding is more than $90 million.

The company is well known for its partnership with Facebook, but the service works with more than 200 customers, including ESPN, Ford Motor Company, Hanes, and Virgin Mobile USA.

Buddy Media recently opened an office in London where Luca Benini, recently with comScore, is managing director.

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