Sprinklr Launches Social Ad Tools And Raises $40M In Series D Funding.
The largest independent enterprise social relationship platform provider, Sprinklr, has recently announced the launching of its integrated paid social media capability as well as a raised total amount of $40 million Series D investment from ICONIQ Capital, Battery Venture, and Intel Capital. This recent found of funding fuels Sprinklr’s projected growth of ver 300% year over year, as it enables end to-end social experience management for large enterprises.
Sprinklr’s launch of paid media strictly connects the platform that Forrester Research named “The most powerful technology on the market,” to the $7.8 billion market for socially paid advertising. This new ability will allow brands and their agencies to plan, execute, measure and optimize their various social networking sites, such as Facebook and Twitter, paid social activities in the same environment as their owned and earned interaction.
Combining the integrated brand analytics, integrated listening, and automation optimize paid media spend is a breakthrough for brand and direct response marketers. Early clients have reported that over a 2% increase in ROI has resulted of increased effectiveness and efficiency. The module is expected to be generally available towards all clients within those six weeks.
“The social age demands that brands manage experiences across every touchpoint – every team, department, division and location. Paid media is at the core and is the most expensive part of creating brand experiences,” said Ragy Thomas, CEO of Sprinklr. “The launch of paid and a 40MM series D, led by some of the most influential sources of capital in the world, sets Sprinklr up to continue on our tremendous growth path.”
ICONIQ Capital is global multi-family office and merchant bank for a group of influential families, and led the recent round with joining participation from existing investor Battery Ventures and Intel Capital.
“The introduction of an integrated, paid-media module is a big step for Sprinklr, and will be welcomed by large businesses now struggling to patch together their own social solutions,” said Neeraj Agrawal, a general partner at Battery Ventures. “It’s a big problem crying out for a solution across nearly every industry.”
“Sprinklr has a bold vision for integrated experience management for the enterprise,” said Carey Lai of Intel Capital. “The rise of social media has given consumers a platform to engage directly with brands like never before. This is a big idea whose time has come a paradigm shift in the $100 billion enterprise software market.”