Social Relationship Platform Spredfast Raises $32.5M
Social relationship platform provider Spredfast announced Friday that it raised $32.5 million in growth capital in a funding round led by Lead Edge Capital, adding that the funds will be used for talent acquisition, product development, and global expansion.
Social relationship platform provider Spredfast announced Friday that it raised $32.5 million in growth capital in a funding round led by Lead Edge Capital, adding that the funds will be used for talent acquisition, product development, and global expansion.
Spredfast counts General Mills, AT&T, and REI among its clients, saying that those companies average nearly 120 employees managing social activity for 40 brands or initiatives across 200 accounts.
The company added that it tripled revenue in 2013 compared with 2012; strengthened existing relationships with clients including Discover, AT&T, Target, Rackspace, and AARP; and integrated new Twitter functionality allowing its clients to target and deliver organic tweets by country.
Spredfast CEO Rod Favaron said in a release announcing the funding round:
This is evolving into a huge market.
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