Deven Parekh of Insight Venture Partners has added Buddy Media to his investment portfolio of innovative enterprises. Buddy Media is worth $500 million according to the valuation that sources say the company earned in their newest $54 million financing round.

Buddy Media is the social media management software that eight of the globe’s top 10 international advertisers have selected. In addition to Insight Venture Partners, GGV Capital, Institutional Venture Partners, and Bay Partners took part in Buddy Media’s current financing round.

Included in Deven Parekh’s investment portfolio are diverse companies, and those he selects for investment opportunities changes annually. His choices are based on his in-depth research of technology firms, which helps to mitigate risk.