Social Media Management Company Hearsay Social Raises $18 Million

Posted Jul 30, 2011

Corporate social media management company Hearsay Social has raised $18 million. The company launched this past February. Hearsay provides franchise companies and businesses with local chapters the ability to monitor social media across the whole organization.

Some of Hearsay’s customers include State Farm, Farmers Insurance Group, and 24 Hour Fitness.

Hearsay’s additional features include a Rogue Page Finder, a system for adding corporate hierarchies, and a social campaign tool for multiple social networks. The Rogue Page Finder finds social media pages that uses the company’s branding but are imposters.

The investors in this round include New Enterprise Associates and Sequoia Capital. NEA partner Jon Sakoda will join Hearsay’s board of directors. Previous investors in the company’s $3 million round includes Sequoia Capital, Michael Abbott (Twitter), Steve Chen (YouTube), Dave Morin (Path), and Aaron Sittig (Facebook). Hearsay was founded by Clara Shih and Steve Garrity.