Deven Parekh of Insight has added Buddy Media to his investment portfolio of creative businesses. Buddy Media is worth $500 million according to the valuation that sources say the company earned in their latest $54 million financing round.

Buddy Media is the social media management software that 8 of the globe’s top ten global advertisers have selected. In addition to Insight Venture Partners, GGV Capital, Institutional Venture Partners, and Bay Partners took part in Buddy Media’s latest round of financing.

Included in Deven Parekh’s investment portfolio are diverse companies, and the ones he decides on for investment opportunities changes annually. He bases his choices on his in-depth research of technology businesses, which helps to mitigate risk.