Way back in March 2011 we ran a feature about British startups invading Silicon Valley. One of these startups was Conversocial, a platform that enables brands to manage interactions and engagement with customers via the gift of social media. And today, Conversocial announced a £2.95 million ($4.4 million) Series A2 funding round led by Octopus Investments.
The cash bounty will primarily go towards product development, talent acquisition and building Conversocial’s presence in North America, after it launched a base in New York back in September last year following a $1.25 million funding round. Today’s news takes Conversocial’s total investments past the $7 million mark.
“The new investment allows us to innovate even faster to take social into the contact center, and meet the fast growing market demand,” says Joshua March, CEO and founder of Conversocial.
Conversocial’s social media management system helps brands plan updates and understand what type of content will resonate with fans and followers on social networks. Since it launched publicly in July 2010, the social CRM tool has been used by a host of retailers, including recent additions American Greetings, Barclaycard, GoDaddy, Hertz, JackThreads, and Sephora.
Conversocial says it has processed more than 300 million customer service interactions (up from 30 million in December 2011) across more than twenty countries, while its revenue has tripled over the past 12 months. It confidently predicts this trajectory will continue over the next year.
It’s a chunky cash injection for sure, and should go some way towards helping continue pushing the likes of Radian6 – it’s also good to see a UK/European company gaining traction in the States.
Meanwhile, check out our interview with March from 18 months ago, where he outlines his vision for infiltrating customer service centers.