Sprinklr Launches Paid Media Solution and Announces $40M Series D Funding Led by ICONIQ Capital
Funding fuels the growth of industry's first social relationship management infrastructure with integrated owned, earned, and paid capabilities
NEW YORK, April 29, 2014-- Sprinklr, the largest independent enterprise social relationship platform provider, today announced the launch of its integrated paid social media capability as well as a $40 million Series D investment from ICONIQ Capital, Battery Ventures, and Intel Capital. This new round of funding fuels Sprinklr's projected growth of 300% year over year, as it enables end-to-end social experience management for large enterprises.
Sprinklr's launch of paid media tightly connects the platform that Forrester Research named "The most powerful technology on the market," to the $7.8 billion market for social paid advertising. This new capability enables brands and their agencies to plan, execute, measure and optimize their Facebook and Twitter paid social activities in the same environment as their owned and earned engagement. Combining integrated brand analytics (added via Sprinklr's recent acquisition of Dachis Group), integrated listening (launched in January 2014), and automation to optimize paid media spend is a breakthrough for brand and direct response marketers. Early clients have reported over 25% increase in ROI as a result of increased effectiveness and efficiency. The module is expected to be generally available to all clients in six weeks.
"The social age demands that brands manage experiences across every touchpoint - every team, department, division and location. Paid media is at the core and is the most expensive part of creating brand experiences," said Ragy Thomas, CEO of Sprinklr. "The launch of paid and a 40MM series D, led by some of the most influential sources of capital in the world, sets Sprinklr up to continue on our tremendous growth path."
ICONIQ Capital is a global multi-family office and merchant bank for a group of influential families, and led the round with participation from existing investors Battery Ventures and Intel Capital.
"The introduction of an integrated, paid-media module is a big step for Sprinklr, and will be welcomed by large businesses now struggling to patch together their own social solutions," said Neeraj Agrawal, a general partner at Battery Ventures. "It's a big problem crying out for a solution across nearly every industry."
"Sprinklr has a bold vision for integrated experience management for the enterprise," said Carey Lai of Intel Capital. "The rise of social media has given consumers a platform to engage directly with brands like never before. This is a big idea whose time has come -- a paradigm shift in the $100 billion enterprise software market."
Enterprises interested in learning more about this integrated capability can contact Sprinklr for a demonstration immediately. Existing clients can gain access to the integrated paid module by contacting their success manager.
Sprinklr is also hiring around the globe. Explore opportunities in Sprinklr's New York, Austin, Delhi, Bangalore or Kiev offices here.
Sprinklr's infrastructure software is how brands manage social experiences across every touchpoint. Unlike tools and platforms, Sprinklr is the only true integrated social relationship infrastructure. Called "The most powerful technology in the market" by Forrester Research, Sprinklr accelerates the social maturity of a brand, from just 'doing social' to being social, at scale. Sprinklr's cloud software and strategic and analytic services enable the enterprise to innovate faster, grow revenue, manage risk and reduce operational costs. Founded in 2009, Sprinklr is headquartered in New York City and serves more than 450 brands worldwide including Microsoft, Intel, Virgin America, IHG, and 4 of the top 5 US banks. Visit www.sprinklr.com @sprinklr #SocialAtScale.
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