In its second-largest acquisition, Amazon buys the company for $970 million.
A client led the funding for the social media management firm.
Social media management platform vendor Shoutlet Inc. announced this week that it had raised $6 million in its third funding round. American Family Mutual Insurance Co., the third-largest mutual property and casualty insurance company in the United States, led the funding round. The company also is a Shoutlet client.
The company’s technology helps clients, including online retailers, create content and monitor and measure their social media presence in forums such as Facebook and Twitter.
Two of Shoutlet’s previous investors, Origin Ventures and Leo Capital Holdings, also contributed funds. The company has raised $9.2 million to date. Shoutlet CEO Jason Weaver says the company will use the new funding to implement its plans faster.
“As we see more and more brands turning to social media as a channel to communicate with their customers, we are excited to be at the forefront, delivering technology that makes it simple to engage with customers as well as ensuring those engagements are effective,” Weaver says.
Weaver says American Family Insurance has been a Shoutlet client for about a year and uses the company’s social customer relationship management and Facebook management services. He says American Family Insurance uses the platform to help 2,000 insurance agents manage their social media presence. Agents use the service to help create and manage conversations with existing and potential clients.