Discover what's up in the business of marketing each Friday.
CRM Solution Conversocial’s $4.4 Million In Funding To Go Toward Product Development
Selected by Gartner as one of the five “Cool Vendors” in the CRM customer service vertical for 2013, Conversocial has landed a $3.2 million investment from Octopus Investments, along with $1.2 million from a previous convertible note for a total of $4.4 million in funding. With the upgrade of their Real Time Management Dashboard and Conversations Workflow platforms, Conversocial makes it possible for companies to manage customer service initiatives via their social media channels in real-time.
“The new investment allows us to innovate even faster to take social into the contact center, and meet the fast growing market demand,” says Conversocial CEO Joshua March. According to the announcement, Conversocial’s latest round of investments will be allocated to product development, hiring key talent, and helping build Conversocial’s North American presence.
Headquartered in New York and London, Conversocial’s total funding amounts to $7 million. The company reports that their customer base has doubled, causing revenue growth to triple over the last 12 months.
Conversocial’s Real Time Management Dashboard allows customer service managers to identify and track issues on public social channels, while providing customer service team operation reports. With the Conversations Workflow solution, customer service professionals can manage multiple conversations across private and public social channels in real-time.
Conversocial client JackThreads claims they can now handle 10 times the number of social interactions they were managing before using Conversocial.