Stashmetrics secures six-figure Finance Yorkshire backing

Stashmetrics secures six-figure Finance Yorkshire backing

A York-based company that helps brands harness the power of social media is set for growth following a £250,000 investment from Finance Yorkshire.

Stashmetrics was founded by entrepreneurs Mike Houston and Sam Oakley who developed software to provide insights for marketing professionals on their social media campaigns.

The duos customers now include Unilever, Sony Mobile, Diageo, United Nations, Care Quality Commission, Givaudan, Camelot and Nestle as well as media agencies Havas and Mindshare.

The Finance Yorkshire Seedcorn investment will be used to build the firm’s sales team, increase marketing, develop new products and recruit developers.

Houston said: “There are some really good tools to help companies understand what people are saying about them on social media but most of the decisions that marketers make are based on people, not keywords.

“Our software identifies the people on social media who have the real power to reach their target audience.”

When Sony Mobile wanted to engage with photographers for a new handset campaign, Stashmetrics set up a group of Twitter “photographers” using historic keyword analysis and biography.

This allowed Sony to track what those people were talking about, what they read and who influenced them.

Oakley added: “The ultimate aim is to gain people’s permission to advertise to them by providing content they actually like.

“We have proved that the product works and we have some excellent case studies. Now we need to make it available to a much bigger audience.”

He said the company aims to adopt a ‘Software as a Service’ model, which means the programme can be hosted by Stashmetrics but licensed to users in the UK and overseas.

“This money will enable us to continue to grow. It allows our developers to further develop our software and realise the vision that we intended for it.”

Stashmetrics has also received £50,000 from Creative England and private investors. It previously received loan and equity investment from the Collider business accelerator.