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New York social media analytics startup Sprinklr aims to take social advertising to dizzy heights with new ad tool

Sea­soned busi­ness devel­op­ment man­agers con­cerned to opti­mize online adver­tis­ing sales for their clients don’t need any lec­tures on the ris­ing impor­tance of the social media chan­nel in run­ning effec­tive cam­paigns. And that’s why they may be inter­est­ed in a new B2B adver­tis­ing tool launched by New York social media ana­lyt­ics start­up, Sprinklr.

A com­pa­ny first 

The new prod­uct is described by the com­pa­ny as its first “paid social media solu­tion” – and its launch coin­cides with news that the start­up has just suc­cess­ful­ly closed a Series D round total­ing $40 mil­lion, vir­tu­al­ly dou­bling its total ven­ture cap­i­tal invest­ment overnight to a prince­ly $77.5 million.

Nat­u­ral­ly, our sea­soned busi­ness devel­op­ment man­ag­er will now be ask­ing, “What does the new ad tool do and what will Sprin­klr do with the new cash?” The answer to the first part is this: it’s a soft­ware plat­form which helps agen­cies and brands man­age their adver­tis­ing cam­paigns across Face­book and Twitter.

Up to now, Sprin­klr man­aged unpaid and viral con­tent on these net­works; now they’re offer­ing clients the chance to man­age all social media inter­ac­tions, whether paid or unpaid, from a sin­gle prod­uct. And it seems to be get­ting impres­sive results. Ear­ly tests appar­ent­ly show that it can gen­er­ate increased ROI of 25 per­cent on cam­paigns. Intrigued busi­ness devel­op­ment man­agers will have access to it in about six weeks, when it’s sched­uled to become gen­er­al­ly available.

Growth plans

The Series D round was led by San Fran­cis­co-based ICONIQ Cap­i­tal, with par­tic­i­pa­tion from exist­ing investors Intel Cap­i­tal and Bat­tery Ven­tures. Sprinklr’s founder and CEO, Ragy Thomas, said: “This round of fund­ing is a tes­ta­ment to our vision for expe­ri­ence man­age­ment across every enter­prise touch­point — every team, depart­ment, divi­sion and loca­tion. We will use the funds to fuel pro­ject­ed growth of 300% this year and to invest even fur­ther in our orga­ni­za­tion and product.”

Bat­tery Venture’s Neer­aj Agraw­al added

“The intro­duc­tion of an inte­grat­ed, paid social media mod­ule is a big step for Sprin­klr, and will be wel­comed by large busi­ness­es now strug­gling to patch togeth­er their own social solutions.”

The start­up, which launched in 2009, acquired social media mon­i­tor­ing firm Dachis Group ear­li­er this year.

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