Percolate, a SaaS company that helps marketing managers create branded content, has raised a $9 million Series A round. The round was led by GGV Capital with participation from existing investor First Round Capital. GGV's Jeff Richards is joining Percolate's board of directors.
James Gross and Noah Brier founded Percolate in early 2011. It helps CMOs figure out what their brands should be discussing on social media.
More than 30 Fortune 500 companies use it, including American Express, GE and Diagio. Many of them were on-boarded in the past six months, and they're paying up to $10,000 per month to use Percolate.
Over the past year, Percolate has been able to run on its own revenue and turn a small profit. It raised a $1.5 million seed round after Gross and Brier bootstrapped for the first year and onboarded big brands like MasterCard and Amex themselves. Gross was a former sales executive at Federated Media and Brier worked for The Barbarian Group; combined, they're well-sourced in the PR and marketing fields.
Gross says the company will use the $9 million to kick the business into overdrive and secure a new office five times the size of its current space, which is overflowing with new employees.
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