Spredfast, an Austin, TX-based social marketing software provider, raised $50m in growth equity funding.
The round was led by new investor Riverwood Capital, with participation from previous investors Austin Ventures, Interwest Partners, OpenView Venture Partners, and Lead Edge Capital.
The company intends to use the funds to expand its connected ecosystem of tools, innovating its social care, brand marketing, and media solutions.
Led by Rod Favaron, CEO, Spredfast provides marketers with a SaaS platform to manage their brand and connect with consumers. The solution sifts through millions of pieces of social content per minute to allow brands to participate in individual conversations or amplify relevant content across any digital screen. Spredfast integrates with more than 50 partners, including Actiance, Kenshoo, Google Analytics, Opal, Bitly, and all major listening tools.
The company, which merged with Mass Relevance in 2014 and acquired Shoutlet in 2015, today employs more than 500 people in 5 global offices, supporting more than 650 customers, including Target, Bank of America, ITV, Airbnb, and NBC Universal.