Sponsorship Analytics Firm Hookit Closes On $16M Series C Funding

California-based sponsorship analytics and valuation company Hookit has closed on a $16M Series C round of funding, led by growth capital firm Arrowroot Capital. Hookit has been particularly active in developing analytics around social media engagement, and counts MLS, Liverpool, the Canadian Olympic Team, McLaren Honda F1 Team and World Surf League among its sports clients. It also has a large partnership with Kantar Media.

The additional funds will be particularly targeted for development of new technologies in machine learning and predictive analytics. “We’re sitting on mountains of historic data, and up to now we’ve primarily looked backwards in our analytics. But we want to start using that historic data to look forward, be predictive, and help point to where clients should be investing their dollars,” said Hookit CEO Scott Tilton. Arrowroot Capital was joined in the round by Bialla Venture Partners, Social Starts and several undisclosed private investors.