Social marketing platform Spredfast announced a $50 million growth equity round today.
The round will be used to expand their product suite, as well as bolster their customer experience and support.
"Today, brands need to stay ahead of the industry's rapid pace of innovation. To win big and keep up with the changes, they are asking us for an open and connected platform that gives them the flexibility to integrate with their preferred technologies, build their own marketing stacks, and gain a full view of the customer journey across all digital touchpoints," said Rod Favaron, CEO of Spredfast, in a statement. "To deliver this, we're focused on continuous innovation in the areas where we specialize, and, where we don't, we're connecting with other best-in-class tools."
Spredfast software allows marketers to track, manage and amplify real-time conversations across the spectrum of social media using a single dashboard.
"There's a tremendous amount of value that exists in social today," said Jeff Parks, founding partner at Riverwood Capital. "Spredfast is helping businesses find that value and apply it to their larger business goals. We want to be a part of the company's unstoppable innovation and vision for the future of connected data."
The round was led by new investor Riverwood Capital, and supported by previous investors Austin Ventures, Interwest Partners, OpenView Venture Partners, and Lead Edge Capital.
Spredfast merged with Mass Relevance in 2014 and acquired Shoutlet in 2015, and has since more than doubled in size. Today, Spredfast employs more than 500 people in 5 global offices, supporting more than 650 customers, including Target, Bank of America, ITV, Airbnb, and NBC Universal.
