Facebook Marketing Firm Spredfast Raises $18M

By David Cohen 

Social marketing software provider Spredfast announced Tuesday that it raised $18 million in venture capital in a round led by OpenView Venture Partners and joined by existing investors Austin Ventures and InterWest Partners.

Spredfast said it will use the funds to continue investment in its technology platform and add to its team.

The company is coming off a strong 2012, listing the following accomplishments:

  • Revenue growth of 400 percent.
  • Doubling of employee headcount.
  • New customers including AT&T, Caterpillar, Rackspace, and Starbucks.
  • Expanded relationships with existing customers including AAA, T. Rowe Price, Whole Foods Market, and Warner Bros.
  • Acceptance into Facebook’s Preferred Marketing Developer program, Twitter’s Certified Products program, and LinkedIn’s Social Media Management Partner program.
  • Integration of Bazaarvoice ratings and reviews.
  • New features including role-specific work spaces, enhanced work-flow automation, comparative performance analytics, and rich analytics and post targeting across Facebook, Twitter, LinkedIn, and YouTube.

Spredfast CEO Rod Favaron said:

Social is rapidly becoming the preferred interaction mechanism for consumers and business people alike. The time is fast approaching when your customers will no longer email or call you — they will send out a signal via social and expect a thoughtful response. They’ll expect you to know about them and for you to offer them something of value for their attention. Spredfast’s customers understand the strategic advantage of laying the technical and organizational foundation for this future now, working with a trusted partner whose entire focus is social.