Sprinklr racks up $46 mln


New York City-based social media management platform Sprinklr has secured $46 million in funding. Previous backers Battery Ventures, Intel Capital and Iconiq Capital were the lead investors.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Sprinklr, Inc., the world’s most complete enterprise social technology, today announced $46 million in new funding at a valuation of more than $1 billion, bringing the company’s total venture funding to $123.5 million. Existing investors Battery Ventures, Intel Capital, and Iconiq Capital led the round. The company also announced the launch of the Experience Cloud™, an integrated offering that allows brands to create, manage, and deliver experiences across 23 social channels and brand websites.

This follow-on investment – the company’s fifth in four years – will support Sprinklr’s rapid expansion into adjacent product markets and geographies. The funding signals the dynamic growth of the social media market, estimated to reach $27.4 billion by 2020, and the importance of social as the center point of omnichannel experience management.

“Global businesses are expanding from channel-centric and function-centric thinking in response to the increasingly connected customer. Neither point solutions nor disconnected cloud services will allow them to consistently deliver valuable customer experiences at every social touch point,” said Ragy Thomas, CEO and founder of Sprinklr. “Sprinklr’s Experience Cloud™ will allow large brands to collaborate and deliver enhanced customer experiences across social channels, brand websites, and internal silos to deepen relationships and drive business outcomes.”

The Experience Cloud™ extends Sprinklr’s core social media management and content production capabilities. The integrated technology provides enterprise brands with a solution for consistent management of the customer journey, from awareness to purchase, across 23 social channels and brand websites. The commerce component of the Experience Cloud is powered by hybris software, an SAP company, which is natively integrated as a launch partner. Launch clients for the Experience Cloud include Dell, McDonald’s, Prestige Brands and Verizon.

“While many social technology companies have matured and leaders are emerging, we believe the market for customer experience management is still in the early innings and ripe for growth,” noted Neeraj Agrawal, general partner at Battery Ventures. “Sprinklr’s customer focus, engineering strength, and already proven execution are all factors that make me optimistic about the company’s potential to be a category leader.”

This new funding continues Sprinklr’s momentum. In the last year, Sprinklr tripled in size and strategically expanded their capabilities with the acquisition of four companies – Dachis Group, TBG Digital, Branderati, and Pluck. The company now has offices in 10 countries and was recently named the social launch partner for SAP’s hybris Marketing solution.

“The noisy social customer journey means that global brands need to take a new approach to ensuring that experiences are consistently delivered at every social touch point,” added Matthew Tennant, Global Director of Social at McDonald’s. “Sprinklr will allow us to leverage the best practices and reporting capabilities that we developed for our social channels and expand them to website experiences, using the Experience Cloud™.”

Sprinklr clients and prospective clients are invited to join a webinar on April 23, 2015, to learn more about the Experience Cloud™.

About Sprinklr
Sprinklr is the most complete enterprise social media management technology in the world, purpose-built for large companies to drive business outcomes and manage customer experiences across all touch points. Called “the most powerful technology in the market” by Forrester, Sprinklr’s fully integrated social experience management software powers more than four billion social connections across 77 countries. Headquartered in New York City with almost 700 employees globally, Sprinklr is revolutionizing customer engagement for almost 800 of Fortune’s top enterprise brands, including IHG, Intel, Microsoft, Samsung, and Virgin America, and partners like Accenture, Havas, and Razorfish. For more information, visit sprinklr.com or tweet us at @sprinklr.