Conversocial raises $5m Series B funding
Startups 100 social media customer service platform takes total funding to just under $12m
Social media customer service platform Conversocial – founded by 2011 Young Gun Joshua March – today announced the successful closure of a $5m Series B round of funding, taking its total backing to just under $12m to date.
Founded in 2009 as a spin-off of Facebook developer iPlatform, Startups 100-listed Conversocial claims to identify complaints and issues raised by customers of a brand via social media platforms such as Facebook and Twitter, enabling its clients to quickly deal with them via the appropriate channels.
The start-up claims that around 10% of all customer service requests come through social media, which Conversocial says would be difficult to manage effectively without its toolkit.
Since launch the company has amassed around 200 clients, comprising a mixture of smaller firms and large multi-nationals including Hertz, Groupon and Google.
The current $5m round was led by tech-focused VC firm Octopus Ventures, with input from previous backers including DFJ Esprit and angel investor Matt Arnold.
It follows a previous Octopus-led Series A round in 2013, which raised a total of around $4.4m. Conversocial said the latest investment takes its total funding to around $12m to date.