Community managers and social media managers familiar with these pages will recall that we last reported on New York social marketing startup Percolate last December, shortly after it had successfully raised a tidy $9 million in Series A. This week, it announced that it’s raised an additional $24 million in a Series B round led by Sequoia Capital. Maybe co-founder James Gross’ goal to make Percolate “the system of record” for brands is already happening: investment like that means a lot of confidence has been inspired.
New era social marketing tech
Percolate isn’t a mere social media management system; it doesn’t just let brands listen to what’s going down on social media. It helps them root out, create and distribute lively content as well.
With Percolate’s technology, brands can create a calendar that lets them share potential topics on specific days, find and look at content related to the company name or product theme even when that content is user-generated or published elsewhere, and collaborate as a team to create content. They can also see clear analytics showing what’s doing well and what needs more attention. The staffing agency Aquent, for example, says that Percolate slashed the time needed to post content to its Facebook page and other social channels by half. Even the most battle-hardened social media manager would concede that that’s an impressive fete.
According to Gross, Percolate remains “really committed to New York” where it was founded in 2011 (most of its 100-plus employee work there); however, the new money will help it with international expansion plans as well as to increase brands’ understanding of what he calls “this new phase of marketing technology.” That’ll involve ramping up the company’s marketing.
Money will also go into expanding Percolate’s partnerships with content providers such as Getty Images and developing its “workflow tools.” These include its straightforward system for obtaining rights to user generated content as well as its smartphone apps.
The Percolate board of directors will now be joined by Sequoia’s Matt Dixon, who said: “Content marketing is now the most effective way for brands to connect with their customers, and Percolate brings order to the chaos of doing so at scale.”