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Two social marketing agencies raise funds
Shoutlet’s garners $15 million and Unified secures $14 million.
Despite Facebook’s middling stock price, venture capital firms continue to invest in social marketing.
Social media management platform vendor Shoutlet Inc. announced it has raised $15 million in Series C funding from venture capital firm FTV Capital. The round brings Shoutlet’s total funding to $24.2 million in outside investment.
Shoutlet’s technology helps clients, including online retailers, create content and monitor and measure their impact in such online social forums as Facebook, Twitter and YouTube. The vendor plans to use the funding to finance product development and add staff in all three of its account management and technical support offices.
Shoutlet’s focus is on helping marketers handle their social media strategies in-house. “The wave of customers making the change to in-house management has exceeded our wildest expectations and has validated our do-it-yourself model,” says Shoutlet CEO Jason Weaver. “This funding will enable Shoutlet to innovate at an even faster pace and aggressively expand our product offering to meet the needs of sophisticated marketers who desire a more rapid response form of social media management." The vendor’s clients include Canon, Nokia and Wrangler.
Social marketing technology firm Unified also announced a funding round. The company says it has raised $14 million in financing that it plans to use to invest in technology and add staff.
The vendor, whose clients include companies such as Microsoft that sell directly to consumers as well as agencies like Omnicom, helps marketers automate processes for posting on social networks such as Facebook, Twitter, StumbleUpon and YouTube. It also offers tools to measure the spread of posts during social media campaigns and quantify a return on investment for the dollars marketers spend.