Social media management software firm Conversocial raised £1.5 from DFJ Esprit, the European VC firm. Nic Brisbourne, partner at DFJ Esprit, will be joining the board at Conversocial as non-executive director. Advisors on the deal were not publicized.
London, 24 May 2011: Social media management software company, Conversocial, has raised £1.5 million in series A funding from leading European venture capital firm, DFJ Esprit. The London based start-up provides a Software as a Service offering that allows businesses to increase engagement and manage interactions with customers through social platforms such as Facebook and Twitter.
DFJ Esprit is the lead investor in this funding round and the investment will be primarily used for expanding Conversocial’s sales and marketing efforts, both in Europe and the US, as well as for developing the product further. Nic Brisbourne, partner at DFJ Esprit, will be joining the board at Conversocial as non-executive director.
Launched in July 2010, Conversocial is already used by some impressive customers including ITV, Mediacom, Tupperware and, more recently, the world’s number one daily deals company, Groupon. Through in-depth engagement analytics and comprehensive comment management tools, Conversocial’s software enables effective marketing distribution, moderation and customer support.
CEO and co-founder at Conversocial, Joshua March, comments: “In-house social media teams across marketing and customer care are growing in depth and responsibility. Companies are dramatically increasing spend on sophisticated yet easy to use social media management software, like Conversocial, to allow them to manage this effectively. The investment from DFJ Esprit allows us to capitalise on this growth and ensure our leadership position in this rapidly developing new market.
“We’re excited to be working with a venture capital firm that is prepared to support start-ups with rapid, global ambitions; and the experience that Nic Brisbourne brings to our board will be invaluable as we develop our team.”
Nic Brisbourne said of the investment: “We are now at a time where companies have realised the power of engaging directly with their customers in real-time through the medium of social media. We have been tracking the penetration of social media into the enterprise for a number of years and are excited to be investing into Conversocial, which is leading the next wave in social media management software.”
About DFJ Esprit
DFJ Esprit is a leading cross-stage venture capital firm that invests in European technology companies. They have experience of investing in over 200 companies, generating strong returns for investors through building valuable global companies alongside founders and management teams. DFJ Esprit has made a number of high profile European exits recently, with its portfolio companies representing a large proportion of the value of mergers and acquisitions in Europe over the last 12 months.
The DFJ Esprit partners have invested and helped build many of Europe’s most successful venture companies of recent years, including LOVEFiLM, Apatech, Buy.at, Phyworks, KVS, CSR, The Cloud and Domantis. DFJ Esprit is the exclusive European partner for Silicon Valley based Draper Fisher Jurvetson (DFJ) Global Network of venture funds. DFJ Esprit invests across Europe and has partners located in London, Cambridge, Dublin, Helsinki and Paris. For more information go to http://www.dfjesprit.com/home
Conversocial is a Social Media Management System that helps businesses manage the increasing volume of two-way communication going through social platforms like Facebook and Twitter. Through in-depth engagement analytics and comprehensive comment management tools, Conversocial enables effective marketing distribution and customer support.