Social Marketing Company SocialFlow Raises $10 Million
SocialFlow is a social marketing optimization company that has raised $10 million in Series B funding. The company helps brands determine when and which messages to post on Facebook and Twitter. This round of funding was led by Fairhaven Capital. The investment included participation from existing investors SoftBank Capital, RRE Ventures, Aol Ventures, and Betaworks. New investors that also participated include kbs+ Ventures and Rand Capital Corporation. SocialFlow will be using the funding to expand their current product lineup and partnership reach.
SocialFlow’s two primary products are Cadence and Crescendo. Cadence is used by businesses to manage messages that are tweeted and posted to Facebook. The product uses algorithms to determine when the social media followers are most likely to engage with the content. Crescendo is an audience measurement technology service that helps with ad buys and determines which messages should have paid promotion.
Some of SocialFlow’s 70 enterprise customers include Walmart, The Economist, Dole, National Geographic, Burberry, and Pepsi. SocialFlow has 32 employees and plans to hire 12 more in sales and marketing. SocialFlow spun out of Betaworks and raised $7 million in Series A two years ago. The company’s revenues are currently in the low seven figures. For Q1 2013, SocialFlow saw 332% year-over-year growth. The company booked as much in Q1 2013 as they did during the entire year in 2012.