Octopus Investments backs customer service platform Conversocial

Conversocial, a New York-based customer service platform, has raised $5 million in Series A2 funding. Previous backer Octopus Investments led the round with participation from new investor Matt Arnold of DFJ Espirit. In addition to the funding, the firm has hired Kristin Shevis as VP of North America.


Leading social customer service platform Conversocial today announced an additional $5m of Series A2 funding this morning, bringing the total A2 round to $9.4m, as well as the hiring of Kristin Shevis, joining from Hearsay social, as VP North America.

The funding, which brings the total funding of the New York-based company to $11.9m, was led by existing investor Octopus Investments, joined by new investor Matt Arnold. DFJ Esprit, an existing investor, also participated. The new funding will be used for further expansion across North America as well as increasing development capabilities in data science and system integration.

Conversocial, which helps companies manage the fast growing volume of questions and complaints they are receiving through social media platforms like Facebook and Twitter, now counts almost 200 enterprise customers (including Hertz, Barclaycard, Publishers Clearing House, Volkswagen and Tesco), with over 8 million comments and posts being processed through the platform every month.

“Customer service teams have had to move beyond responding to just inbound telephone calls or emails: consumers are happy to air their questions in the public domain, often across multiple social channels or platforms, and expect a near immediate and appropriate response,” said Alliott Cole, Investment Director at Octopus Investments. “This brings a new set of challenges to the Contact Center, many of which did not exist five or even three years ago. Conversocial’s technology has been built from the ground up to meet these specific challenges and so we are really pleased to invest further and support the business as it scales across Europe and the US.”

“As communication continues to shift rapidly into social and mobile platforms, companies are quickly realizing that to deliver the best customer experience, social media has to be deeply integrated into the contact center,” said Conversocial CEO & Founder Joshua March. “This is only possible with a fast moving, dedicated social customer service platform like Conversocial.”

Helping continue the company’s rapid growth, Shevis brings more than 20 years of enterprise sales experience to Conversocial. She previously helped build the enterprise sales team at Google and, most recently, served as Hearsay Social’s VP of Sales and Social Business, joining as a founding member of the executive team scaling the business to be the leading social business platform for the financial services industry.

“Kristin’s tremendous expertise and passion for leading adoption of emerging enterprise technologies will be a valuable asset for Conversocial as we continue to expand across North America,” says Joshua March.

2014 has already been a busy year for Conversocial, with release of the innovative Conversations workflow, recognition from Twitter as a certified product, Instagram integration and the hiring of Julian Johns, previously of LogMeIn, as VP EMEA.
While the past year has seen tremendous growth for Conversocial, the months and years ahead show even greater opportunity. Recent Forrester research commissioned by the company found that over half (67%) of companies believe that social customer service is growing in importance and is the most pressing short-term priority for contact centers in the US and UK. The research also found significantly higher levels of performance for dedicated social customer care platforms.

About Conversocial
Conversocial is a cloud solution that helps businesses to efficiently and securely manage customer service on social media at a large scale. Conversocial powers enterprise social customer service for hundreds of brands worldwide including Hertz, Barclaycard, Publishers Clearing House and Volkswagen. Conversocial is a Facebook Preferred Marketing Developer, Instagram Platform Developer, and Twitter Certified Product.

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