$11m for Conversocial’s social media customer service platform

Young Gun-founded tech start-up has secured growth finance from Dawn Capital, Octopus Ventures and Draper Esprit

Conversocial, a provider of social media customer service solutions, has closed $11m growth capital in a round led by Dawn Capital with involvement from existing investors Octopus Ventures and Draper Esprit.

Founded in 2010 by  Dan Lester and Young Gun Joshua March, Conversocial identifies complaints and queries raised by customers of a brand via social media platforms such as Facebook and Twitter; enabling said brand to quickly deal with complaints via the appropriate channels.

Headquartered in London with offices in New York, Conversocial’s 240 strong client base covers 20 countries and includes companies such as Google, Tesco, Hyatt Hotels and Air New Zealand all signed up to the service.

With investment into the company now stood at $22m, the tech business will use this latest funding to drive product innovation and drive market development.

March commented: “Social media continues to revolutionise the customer relationship.

“With social media now making up over 10% of inbound service volume for leading organizations, it’s more important than ever to be managing social media with the same diligence and robustness as traditional channels – hence our major investment into key product features like resolution management.”

Teddie Wardi, vice president at Dawn Capital, said:

“The social media customer service industry is growing in size, and as the channel matures, corporations and the industry must find an appropriate partner to provide a solution to this development in customer communications. Conversocial is the ideal partner to help a brand respond to these developments and deliver a best-in-class service to its customers.”

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