Sprout Social, a Chicago, IL-based provider of social business and advocacy platforms, received $42m in funding.
Backers included Goldman Sachs, Merchant Banking Division, and New Enterprise Associates. In conjunction with the transaction, Jason Kreuziger, a Vice President in the Merchant Banking Division of Goldman Sachs, will join Sprout Social’s board of directors.
This investment will enable Sprout to continue its expansion of both its products and customer base.
Led by Justyn Howard, CEO, Sprout Social offers social media engagement, advocacy and analytics solutions for agencies and brands, including Hyatt, Uber, Marvel, Zendesk, Microsoft and Zipcar. The company provides:
– an engagement platform – available via web browser, iOS and Android apps – that enables brands to communicate on social channels and collaborate across teams;
– Bambu by Sprout Social, a platform for advocacy that allows employees to share curated content across their social networks to amplify a brand’s reach and engagement.
A Twitter Official Partner, Facebook Marketing Partner, Instagram Partner Program Member, LinkedIn Company Page Partner and Google+ Pages API Partner, the company currently serves more than 3,000 agencies, 8,000 small businesses and 5,000 mid-market and enterprise customers around the world.