Social media marketing platform Driftrock closes $1m in deal led by Forward Partners
Investment in ad management company backed by entrepreneurs behind Huddle, Just Giving, Somo and Forward Internet Group
London-based social media advertising platform Driftrock has announced a $1m seed round led by Forward Partners with involvement from leading business experts in the tech space including Huddle co-founder, Andy McLoughlin, and Forward Internet Group founder, Neil Hutchinson.
Launched in November 2013 by Forward Partners co-founder Matt Wheeler, Driftrock provides software tools and apps which combine third party data and social graphs to help brands manage their social media marketing campaigns on sites such as Facebook to deliver the right ad content to highly targeted customers.
The seed round, which was also backed by Nick Hynes, CO of Somo, and Jonathan McKay, chairman of Just Giving and Exony, will be used to develop its suite of marketing apps and the data platform which powers them.
The investment will also accelerate technology development to integrate third party data, such as the weather and CRM stats, into its platform.
Driftrock CEO and founder, Wheeler, said: “Driftrock has been helping companies of all sizes get more from their social media channels.
“Rather than bulky, hard-to-use software, our tools are designed to work out of the box. We believe marketers shouldn’t need to become statisticians get results, instead gaining actionable insights in an instant.”