Sprout Social, a leading provider of social media marketing, analytics and advocacy solutions for business, today announced $40.5 million in new funding from Goldman Sachs, New Enterprise Associates and led by Future Fund. This latest round of investment brings its total capital raised to $103.5 million and underscores Sprout’s momentum and foothold within the social media software space. New funds will be used to accelerate the company’s plans for deepened platform capabilities and increased international expansion.
“Social marketing and social data have become mission-critical to virtually all aspects of business. Sprout’s relentless focus on quality and customer success have made us the top customer-rated platform in every category and segment,” said Justyn Howard, CEO of Sprout. “In many ways, social is still in its infancy, and we’re fortunate to help so many great customers navigate this evolving set of challenges.”
Sprout has experienced sustained, rapid growth in recent years, acquiring social analytics firm Simply Measured and recently surpassing 25,000 customers and 500 employees around the globe. The funding will allow Sprout to further accelerate that growth with investments across the business and their expanding platform.
“The Sprout team has built a remarkable company, evidenced not only by their performance but their focus on culture, quality and their customers,” said Jason Kreuziger of the Merchant Banking Division at Goldman Sachs. “Since our initial investment in 2016, Sprout has continually demonstrated their ability to lead and transform this category through best-in-class technology, tremendous leadership and their customer-centered approach.”
“As social media’s impact on business and the world expands, we are committed to providing software that enables our customers to navigate this transformation, create real connections with their audience and drive their businesses forward.” said Howard.
ABOUT SPROUT SOCIAL
Sprout Social offers deep social media listening and analytics, social management, customer care, and advocacy solutions to more than 25,000 leading brands and agencies, including Evernote, adidas, West Elm and Edelman. Sprout’s suite of solutions supports every aspect of a cohesive social program and enables organizations of all sizes to extend their reach, amplify their brand and create the kind of real connection with their consumers that drives their businesses forward. Headquartered in Chicago, Sprout is a Twitter Official Partner, Facebook Marketing Partner, Pinterest Marketing Partner, Instagram Partner Program Member, LinkedIn Company Page Partner and Google+ Pages API Partner. Learn more at sproutsocial.com.