Socialware, an Austin, Texas-based provider of social media compliance and engagement solutions, has secured $7m in Series C funding.
The round was led by Morgan Stanley Expansion Capital. Other existing investors include FLOODGATE, G-51 Capital and Silverton Partners.
The company intends to use the funding to enhance its platform and consolidate its market position in the financial services industry.
Led by CEO Chad Bockius, Socialware enables financial services firms to engage with customers and generate sales channel leads, while maintaining compliance with organization and industry regulation. The technology allows companies to transform public social networking sites like Facebook, Twitter and LinkedIn into enterprise-grade channels within the framework of their existing business processes.
Customers include American Portfolios, Cambridge Investment Research, Guardian Life, and New York Life.
In conjunction with the funding, Peter Chung, Managing Principal at Morgan Stanley Expansion Capital, will join Socialware’s Board of Directors.