NEW YORK, April 16, 2013 /PRNewswire/ -- SocialFlow, the leading social media marketing company, today announced a $10 million round in Series B funding. Fairhaven Capital led the round and was joined by existing investors SoftBank Capital, RRE Ventures, AOL Ventures and Betaworks, as well as new investors kbs+ Ventures and Rand Capital Corporation (NASDAQ:RAND). 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.
SocialFlow co-founder and Chief Product Officer Frank Speiser developed the company's proprietary technology to enable brands, agencies and publishers to actively follow conversation flows across social networks, selecting the right points of engagement with key audiences for when they are most likely to be motivated to action. More than 70 enterprise customers across publishing, consumer products, retail, automotive, hospitality and more use SocialFlow's Cadence and Crescendo platforms as a central part of their social media publishing and digital marketing engagement strategies. Today, six of the ten largest media companies are actively using Cadence and brands such as Walmart, Pepsi, and Burberry are leveraging Crescendo to connect with customers when and where they want to be engaged."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 lynchpin of their ongoing customer acquisition, engagement and loyalty programs," said SocialFlow CEO Missy Godfrey. "With the support and partnership of Fairhaven Capital and our existing investors, SocialFlow has the resources to take full advantage of the tremendous market opportunity to help companies develop meaningful relationships across all social networking platforms." 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's innovative approach, established mindshare with brands and publishers, and clear technological leadership has enabled it to rapidly move this market forward and to create real value for its customers and partners." About SocialFlow 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 About Fairhaven Capital Partners Based in Cambridge's Kendall Square, Fairhaven Capital is a venture capital firm dedicated to a thesis-based approach to investing in North American technology companies. This approach focuses investment efforts on markets where emerging companies and technologies can create significant value. The Fairhaven team is focused on themes in the enterprise, physical technologies, media infrastructure and security markets. For more information, visit www.fairhavencapital.com. SOURCE SocialFlow