Sprout Social Raises Funding
, a provider of social relationship management (SRM) services, has received a Series A round of funding from Chicago-based Lightbank
, the investment vehicle created by Groupon founders Eric Lefkofsky and Brad Keywell.
Sprout Social, which is currently in closed beta, will use the capital infusion for its formal launch later this spring, as well as to expand its service offering.
The company is building a media platform that will allow businesses to efficiently manage and grow their social presence across channels and turn social connections into loyal customers. The Sprout Social platform integrates with Twitter, Facebook Pages, Yelp, LinkedIn, FourSquare and other networks where consumers are engaging with businesses and brands.
In addition to communication tools, Sprout Social offers contact management, competitive insight, lead generation and analytics.