CIT GAP Funds invests in Encore
Herndon-based Center for Innovative Technology (CIT) announced Monday that its CIT GAP Funds invested in a Northern Virginia-based company.
Rosslyn-based Encore provides social alerts to marketers. Each alert provides marketers with three recommendations, such as replying to or retweeting a conversation. The company also breaks down social data for social data analysis.
According to the International Data Corp., the data analytics market is projected to grow to $16 billion in 2014 and is growing six times faster than the overall information technology market. Gartner also predicts that the social analytics market will grow 144 percent in the next three years, to $4.4 billion.
CIT GAP Funds invests in Virginia-based technology, clean tech and life science companies. It is part of CIT, whose mission is to accelerate the next generation of technology and technology companies.