9/06/13

Social media marketing vendor Hearsay Social raises $30 million

Its software helps marketers attract and respond to social media users.

Zak Stambor , Managing Editor

Social media marketing vendor Hearsay Social Inc. has raised $30 million in a Series C funding round led by existing investors Sequoia Capital and New Enterprise Associates. The vendor has raised $51 million to date.

Hearsay Social specializes in what it calls “social sales.” It develops software that enables marketers to use localized social media posts and ads to attract consumers. It also offers tools that help marketers and customer service agents respond to consumers’ social media posts. That combination, Hearsay Social says, enables marketers to drive consumers to click from a social network to a brand’s e-commerce site.

The vendor also hired Gary Liu as its vice president of marketing. Liu had worked at ServiceSource International Inc. since 2006, most recently as vice president of field and customer marketing. ServiceSource sells software to companies that have products with recurring charges, such as contract renewals for software and service subscriptions, according to his LinkedIn profile. From 2000 to 2006, he worked at customer relationship management vendor Siebel CRM Systems Inc. where he held several positions such as direct of product marketing. Oracle Corp. bought Siebel in 2005.

 

Topics:

e-commerce investment, e-commerce technology, funding round, Gary Liu, Hearsay Social, local content, New Enterprise Associates, NewsMakers, Oracle, Sequoia Capital, ServiceSource International, social media, web advertising

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