Social marketing software maker Offerpop, has announced that it has landed a $5.7 Series B funding round led by its existing investor Windcrest Partners.
The new investment round will enable the company “to accelerate its growth and further develop its platform,” said Offerpop in its press release.
Offerpop, which describes itself as the largest independent social marketing company, provides users with a platform for engaging customers through Facebook and Twitter. Among its clients are American Express, Etsy, Time Inc., Amazon, Pepsi and MTV.
One of the few independent social marketing software platforms left, the company is working on a highly competitive market, where it has to rival with major players like Google-owned Wildfire and Salesforce-owned Buddy Media. The level of competition may explain Offerpop’s need to raise money and scale operations.
This news adds up to the consolidation trend that can be seen in the social marketing industry, which also manifested in SocialBakers’ recent acquisition of Facebook advertising startup SocialBrando.
Existing investors, including CommonAngels and Mesco Ltd., have participated in the round along with a new one, Bulger Capital Partners. The Managing Director of the latter, Robert Belau, has joined Offerpop’s Board of Directors.
Founded in 2009, Offerpop has secured $10m in total to date.
Image credit: AFP / Getty Images.
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