Conversocial said it raised $3.8 million in round led by Octopus. No other details were available.
PRESS RELEASE
Octopus leads £2.95 million investment round into Conversocial
Significant market opportunity with industry leading technology to help companies engage with their customers on Facebook and Twitter
Existing clients include Groupon, Tesco, Hertz, Barclaycard, Net-A-Porter
Octopus today announced that it has led a £2.95 million investment round into Conversocial, a market leader in social customer service solutions that has already created an impressive client list including Tesco, Waitrose, Barclaycard, Groupon, Hertz and Net-A-Porter.
With consumers increasingly using social media as a channel to communicate with businesses, Conversocial has developed a social media engagement system for customer service teams. The platform enables companies to communicate and respond efficiently to their customers on Facebook and Twitter.
Alliott Cole, a Principal on the Ventures team at Octopus, said: “We’re thrilled to be working with the team at Conversocial as they continue to grow their brand, technology development and US presence. Joshua March is building a really talented team, which is developing a service that meets head on the challenges that retailers and other organisations now face in responding to and interacting with customers through social media. We look forward to helping the team build on the success it has achieved to date.”
Founded in 2009 and headquartered in London and New York, the company has established itself in both the UK and US market partnering with customer service teams to boost their efficiency and help capture customer feedback across social channels. The new investment will be used to drive the company’s US expansion and product development.
“This new funding will allow us to meet the growing market demand for our industry-leading social customer service solutions and lay the groundwork for long-term growth,”Joshua March, CEO of Conversocial, said. “We remain committed to staying ahead of the service and technology curve, and this new investment will allow us to build on our proven track record of success. We look forward to working with the team at Octopus.”
Earlier this year, Conversocial was named a “Cool Vendor” by Gartner, which recognised providers offering IT and business buyers innovative approaches, tools and technologies for creating positive customer service experiences.
Alliott Cole added: “At Octopus we back people and look for entrepreneurs that are building a strong team around them to deliver an industry changing product. This is exactly what Conversocial has done.”
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