The fund will help Soci to scale up its sales and marketing efforts and expand its cutting-edge technology development
SOCi, Inc., a leading SaaS-based social media management platform for multi-location businesses, secured $8.5 M in Series A funding co-led by Vertical Venture Partners and Grayhawk Capital. That takes the total investment received to $17.75M. Additional participants include the Stanford University DAPER fund, Peninsula Ventures, a Bay Area-based enterprise technology venture fund, and Tallwave Capital, an Arizona-based B2B technology venture fund.
Founded in 2012, SOCi meets the demand of multi-location and multi-tenant businesses to streamline social media workflow on their numerous social media business pages. The capital will finance the growth of its user base by scaling its marketing and sales efforts while opening new verticals and channels.
David Schwab, Founder and Managing Director at Vertical Venture Partners, said, “We are impressed with the SOCi team, the sophistication of the platform, and the velocity at which their customer base is growing. The breadth of social media has reached an all-time high both in its importance to consumers as well as its adoption by businesses at all levels. SOCi is software infrastructure for the new era of social media management and is integral to an enterprise’s efforts to scale their local social media presence.”
“A new day in social media has arrived,” said Afif Khoury, CEO of SOCi, “where large enterprises are finding themselves having to manage hundreds or thousands of local social media pages on behalf of their storefronts, agents, advisors, clients, etc. SOCi’s world class engineering team is passionate about solving the difficult workflow management issues faced by these multi-location businesses.”
SOCi offers scalable solutions for content discovery, asset management, peak-time-scheduling, customer care, lead-generation, reporting and analytics, reputation management and half a dozen other features and functionalities. It manages tens of thousands of social media business pages on its infrastructure. It offers full integration with Facebook, Twitter, LinkedIn, Google+, Instagram, Yelp, and others.
Bridgeline Digital rolled out SOCi’s single-sign-on social media management solutions to more than 3,000 brand locations of their national and franchise brand clients.