Who Got Paid? Social Platform Continues to Sprout
From the ability to track, assign and respond to customer inquries to the ability to publish and report on social posts across networks, Sprout Social is one of the top choices for companies looking for a powerful social media management platform; and it's popularity stands to only increase.
This week, Sprout Social announced it has secured $42 million in Series C funding from Goldman Sachs and NEA. This latest round of funding is by far the largest yet for Sprout Social, which raised a total of $18 million in two previous rounds. The company has expanded considerably since it was founded in 2010, recording a 3,918 percent growth in revenue between 2012 and 2015. Sprout Social plans to use the $42 million to continue expanding their product and customer acquisitions.
“Our team has earned a reputation for building elegant, powerful software that people love to use,” said Justyn Howard, CEO and cofounder of Sprout. “As social becomes central to everyday business, brands require tools that are as capable as they are intuitive. Sprout meets those demands, and we’ll continue to improve every aspect of our products and business to create the most compelling social tools for our customers.”