Percolate, a social media management firm for brands to track online conversations, announced a $24 million fundraising round today.
The New York firm helps brands and agencies develop content marketing strategies by tapping into conversations on Twitter, Facebook, Google+ and other social media platforms.
WPP was among the investors in the latest round of financing after placing an initial investment just last month in an in-between round. Sequoia Capital led was the lead investor. The three-year-old company has now raised more than $35 million.
More than 150 advertisers use its software to track their social media strategies, information that is becoming increasingly crucial in the era of real-time marketing.
The newly raised money is going to expand the company’s staff and develop its software, according to today’s announcement.