Falcon Social said Monday that it has closed $8 million in Series A funding. The lead investor was Target Partners. Existing investor NorthCap Partners also participated in the round. According to Falcon Social, the funding will be used for sales and marketing expansion as well as continued investments in its technology platform. Based in Copenhagen, Denmark, Falcon Social is a social media management platform.
Copenhagen, 19 August 2013 – SaaS social media management platform, Falcon Social, announced today that it has raised €6 million ($8m) of new equity finance. The round was led by Target Partners, with follow-on participation from existing investor NorthCap Partners. Falcon Social, based in Copenhagen, plans to use the capital to continue investment in its technology platform and to speed up its international sales & marketing expansion.
This news follows a successful year in which the company posted outstanding growth, tripled its employee headcount and signed major accounts such as Swarovski, Orangina Schweppes, Stena Line, Deutsche Telekom AG, Warner Music, Conde Nast and First Hotel Group to name a few.
With a proven business model, and ability to win flagship international accounts against head-to-head competition, social media management platform provider Falcon Social won the 2013 Red Herring Top 100 Europe in April after having been voted an ICT top four company at the European Venture Contest in Berlin at the end of 2012.
Falcon’s visual look and feel, ease of use and ability to support large teams in multiple countries are some of the reasons why it is winning big accounts. Innovations such as Real Time Content Previewing and Reach Tracking allow users to see exactly how content will appear before it is posted and how it performs in real time immediately it is posted on social media channels. The Collaborative Calendar diarises the details and images of every piece of content planned for distribution across marketing teams. The Real Time Content Reach Performance shows how many people have looked at content by the hour.
Kurt Müller, Partner at Target Partners comments: “We have been tracking the enterprise social media management space for some time and we believe that the team at Falcon Social has the vision and leadership to build upon the success of its flagship clients and become a leader in the emerging category of social media management platforms for enterprises. Falcon has demonstrated that it has a scalable sales model winning over 70 new customers in the first half of 2013 alone.”
Ulrik Bo Larsen, CEO and Founder of Falcon Social said: “We are proud to have gained Target Partners as an investor and partner. We have seen great interest from investors in this round and this reinforces our clients’ belief that we are doing something extraordinary in terms of innovation and completeness of vision in this new enterprise software category. We are looking forward to introducing more groundbreaking innovations on the platform and accelerating the pace of international expansion with this new investment.”