| |  | Thursday, November 10, 2011 6:14:32 AM | | LOCAL BUSINESS ALERT |  | |
A slate of local investors led by New Enterprise Associates pumped $26 million into District-based newBrandAnalytics, a business intelligence firm that helps hotels, restaurants and retailers track customer feedback on social media.
But it's a deal that almost didn't happen.
NewBrandAnalytics had a term sheet on the table with investors in Silicon Valley when former D.C. mayor Adrian Fenty, who now sits on its board, asked co-founder Neil Kataria to a last-minute breakfast this summer with a partner from NEA.
That meeting opened the door to sit-downs with other local investors, including former AOL chief executive Steve Case and Tige Savage, part of the Revolution investment firm, and business mogul Ted Leonsis. They all wound up putting money in, along with a few hospitality firms.
Within a span of two weeks the company opted to change course entirely, staying in Washington with money from local backers, Kataria said.
Read more at:
http://www.washingtonpost.com/blogs/capital-business/post/district-based-newbrandanalytics-secures-26m-with-help-from-former-dc-mayor/2011/11/09/gIQAfnSb6M_blog.html
Or visit PostBusiness.com or Capital Business.
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