SocialFlow Secures $10 Million Series B to Grow Market Share As Advertising Spend Goes Social
SocialFlow announced a $10 million round in Series B funding led by Fairhaven Capital. SocialFlow will use these funds to accelerate its range and reach, expand its product portfolio and further develop its partner base as the market for intelligent social network engagement and analytics platforms expands. This market expansion is being driven by the need of brands and publishers to identify optimal points of engagement – in real-time and with context relevance – among the millions of conversations being held every minute within the social networks. According to recent analyst reports:
- Corporate investment in interactive marketing programs will exceed $76B in the US alone by 2016, with social media marketing program spending growing to 26% of all advertising spend, according to Forrester Research;
- Advertising is, and will continue to be, the largest contributor to overall social media revenue and is projected to have totaled $8.8 billion in 2012, according to Gartner.
“In the past year, we have seen a significant change as companies integrate social media marketing into their overarching business goals and make it a lynch-pin of their ongoing customer acquisition, engagement and loyalty programs,” said SocialFlow CEO Missy Godfrey.
Rudina Seseri, Partner at Fairhaven Capital said, “As social media becomes the de facto mechanism for brands to communicate, the ability to analyze and act upon this information in real time will be critical.”
SocialFlow is the premier social marketing optimization technology company that enables the world’s most powerful brands to drive superior results connecting their earned, owned and paid media strategies.For further information, please visit www.socialflow.com and follow us on Twitter @socialflow