Investment firm Cuadrilla Capital is beefing up its software business by acquiring online traffic measuring company Chartbeat, Axios reports.
“As more and more folks get focused on subscriptions and long-term value, I think Chartbeat becomes a product that adds value beyond what it’s being used for today,” Chartbeat CEO John Saroff told the outlet.
Representatives for Chartbeat and Cuadrilla Capital did not immediately respond to TheWrap’s request for comment.
Chartbeat helps to measure and analyze website traffic for online publishers and will now look to expand through the additional resources provided by Cuadrilla Capital. The company’s ambition is develop a roster of services that media companies can use to support editorial visions and grow their reach.