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Social media software platform Spredfast announced today the company has raised $24 million in growth financing from Silver Lake Waterman.
"Silver Lake's deep experience in the technology space provides us with significant resources to fulfill our short and long-term goals," Rod Favaron, CEO of Spredfast, said in a statement. "We're proud to join such a prestigious group of portfolio company industry leaders that have benefitted from Silver Lake's support and investment."
The new infusion of capital will allow Spredfast to continue to improve platform technology, expand internationally and recruit new talent.
Spredfast software allows marketers to track, manage and amplify real-time conversations across the spectrum of social media using a single dashboard.
"Integrated social media management and analytics has become a critical priority for companies worldwide," Shawn O'Neill, Managing Director and Co-Head of Silver Lake Waterman, said in a statement. "Spredfast has demonstrated a remarkable track record of product innovation and leadership that we believe will serve the company well as it continues to scale."
Spredfast and Mass Relevance, both of which have counted Austin Ventures among its investors since 2010, merged in April 2014, joining forces to become a formidable social marketing force after Spredfast completed a $32.5M Series D round of funding from six investors in January 2014.
Founded in 2008 under the name “Social Agency Inc.,” Spredfast employed around 200 workers before the merger -- a number that spiked to 380 after its completion. The company has opened offices in Chicago, London, Minneapolis, New York, San Francisco and Sydney.
