Conversocial said Wednesday that it raised $1.25 million in new funding from DFJ Esprit and other current investors. Conversocial, a social media management software company with offices in New York and London, has raised more than $4 million in funding.
Conversocial, the leader in social customer service, announced a new round of funding today from DFJ Esprit and other current investors. An additional $1.25 million was invested to help support its expansion into the US market, bringing the total amount raised to over $4 million. Customer demand for the company’s Software-as-a-Service (SaaS) solution has fueled 100% revenue growth in the first half of 2012.
The company also announced that it has reached an important milestone of the 200 Millionth message processed through the platform, now growing at a rate of over 20 million per month, and averaging 8.6 messages processed by its customers every second. While Conversocial is already widely used in the retail sector, with customers ranging from Tesco in the UK to Sephora in the US, the company is now expanding into other key sectors and was recently awarded a multi-country deployment with Hertz, the largest worldwide airport general use car rental brand.
As a result of rapid expansion globally, Conversocial’s CEO Josh March said that the company has established US headquarters in New York City in addition to maintaining its European headquarters in London.
“While Conversocial has worked with American clients since our inception, today’s news represents an important milestone signifying that the US market is a focal point for continued growth,” said March. “This expansion allows us to provide better support to our customers here, helping them take their social customer service to an entirely new level.”
Conversocial customers have seen impressive results from social customer engagement strategies, which have reduced negative online sentiment by 60%, and decreased average response time by 75% in several cases. These results prove that Conversocial is essential for customer service and social media teams looking to increase their level of engagement with customers and address questions and requests in real time.
“Brands are realizing how important Facebook and Twitter are as direct customer service channels”, said Nic Brisbourne, Partner at DFJ Esprit. “A significant new market is developing in social customer service software – and Conversocial’s growth trajectory and customer base puts it at the forefront. We’re excited to be supporting them through this rapid growth period and as they expand their US operations.”
The investment will be used to expand operations, marketing, and sales in the US.
Headquartered in New York and London, Conversocial continues to expand into the American market and has processed more than 200 million customer service interactions on social media, growing at a clip of 20 million per month and deployed in more than twenty countries. Companies and organizations such as Hertz, Sephora, Waitrose, Groupon, Net-A-Porter, Ogilvy, Tesco, Waitrose, Barclaycard, Charity USA, Tupperware, The University of Phoenix, and Vitalicious are using Conversocial’s Software-as-a-Service to manage the flow of customer service enquiries and discussions on Facebook and Twitter.
For more information contact: Michael Cecil, 212-362-1307, Michael (at) thunder11(dot) com or Anna Drennan, Anna(at)Conversocial(dot)com.
About DFJ Esprit
DFJ Esprit is a leading cross-stage venture capital firm with over that invests from seed to late stage in European ecommerce, technology and media companies. Members of the DFJ Esprit team have experience of investing in over 200 companies and generating strong returns for investors through building valuable companies alongside the founders and management teams. DFJ Esprit is the exclusive European partner for Silicon Valley-based VC, Draper Fisher Jurvetson, which has $7 billion under management and offices in over 30 cities around the world.