Spredfast Nabs Cool $32.5M
Spredfast’s impact in the social sphere is spreading, well, fast.
Today, the social relationship platform provider announced it has raised $32.5 million in growth led by Lead Edge Capital, which has funded well-known software, e-commerce and Internet companies including Alibaba Group, Marketo, Bazaarvoice, Drillinginfo, Refinery29 and Monetate.
Spredfast has experienced incredible growth recently, including seeing their revenue triple year over year from 2012 to 2013. They have also started working with new enterprise social brands including General Mills and REI, and strengthened existing relationships with clients including Discover, AT&T, Target, Rackspace and AARP.
With the funding, Spredfast looks to accomplish its aggressive growth plans through talent acquisition, product development and global expansion.
“This is evolving into a huge market. Every enterprise in every industry can leverage social to grow their business. We are now in the next wave of social business, and we are succeeding because of our single mission,” said Rod Favaron, CEO of Spredfast. “Our customers rely on us to innovate and give them the tools they need to market and manage relationships on social with those who matter most, their customers. We are thrilled to have the support and confidence of our new and existing investors as we accelerate our growth.”