NEW YORK, NY--(Marketwired - Nov 5, 2013) - Social relationship platform, Sprinklr, today announced it has closed $17.5 million in Series C Funding from existing investors to help expand its business worldwide. Previous investors Battery Ventures and Intel Capital funded the round, committing a combined $37.5 million in Series A, B and C funding to date. The company also announced it has opened a UK office as part of its global expansion strategy.
"Ragy didn't just lay out his vision for Sprinklr, he gave us a view around the corner to where the whole social market was going," said Neeraj Agrawal, general partner, Battery Ventures. "We're watching Sprinklr's exponential growth from hundreds of the world's largest brands selecting its breakthrough social infrastructure technology. We think it's proof-positive that Sprinklr is reaching genuine escape velocity."
"In our discussions with the Fortune 1,000 chief marketing officer suite, it is clear Sprinklr has enabled these brands to be social in a more powerful, accelerated way," said Carey Lai, director, Intel Capital. "They're understanding the need to go beyond just 'doing social' with a simple Facebook page or Twitter handle -- to 'being social,' by connecting business silos to one-on-one engagements and driving business results, at scale."
Sprinklr's roster of more than 350 enterprise brands includes Microsoft, Cisco, Intel, IHG, Hearst Digital and Virgin America. Over the last year, Sprinklr has grown by more than 300% and is continuing on a similar trajectory into 2014. Sprinklr's native, seamless Social Relationship Infrastructure (SRI) enables even the largest brands to build real, human relationships at scale.
"We couldn't be more excited to further partner with our investors to expand globally. Large businesses are really getting it now. Cobbled together, unintegrated point solutions restrict the brand to a disjointed picture of their empowered customer. This prevents the brand from speaking with a unified voice," said Ragy Thomas, founder and CEO, Sprinklr. "Our growth reflects the movement of global brands to deploy an integrated social relationship infrastructure at the enterprise level. Europe is the next logical step to support our global client base."
Opening an office in the UK is Sprinklr's first step in its global expansion strategy. Many of Sprinklr's 350+ brand customers have social operations throughout Europe and according to Forrester, spending on social media marketing in Europe is expected to grow 17.6 percent annually from just over EUR 1.4 billion in 2012 to EUR 3.2 billion in 2017. Today, 63.4 percent of Europeans are engaged on social networks, with 41 percent of European smartphone users and 46 percent of tablets users checking their social networks daily. The UK has been a dominant force in the social revolution, and anticipates more than 77 percent of its adults will engage with social media by 2017.
Kevin O'Regan, the former VP of Aprimo EMEA, a Teradata company, was appointed to manage Sprinklr's growing team in the newly opened UK office. O'Regan has more than 20 years of marketing and enterprise software experience working at companies like Oracle and E.piphany prior to Aprimo.
Sprinklr is a social relationship platform that enables large businesses to understand customers and build real, human relationships on social networking channels. Ranked by Forrester Research as "the most powerful technology in the market," Sprinklr is architected for the entire enterprise to innovate faster, grow revenue, manage risk and reduce operational costs. Driving business results across organizational silos, Sprinklr's cloud software platform is the only native, seamless, fully integrated social relationship infrastructure, helping organizations to move beyond just 'doing social' to being social, at scale (social@scale®). Founded in 2009, Sprinklr is headquartered in New York City and serves hundreds of brands worldwide. Visit www.sprinklr.com @sprinklr #SocialAtScale