Opal Labs, a Portland-based startup that helps businesses streamline the production of social media campaigns, today announced a $8 million Series A funding round led by Seattle-based Madrona Ventures.
The fresh cash will help Opal Labs continue building out its Opal Moments software that helps big brands plan and manage their content across social media streams in real time. The company also plans on doubling its staff (30 employees) by this time next year and will move into a new office in Portland’s Pearl District later this year.
“This funding validates the progress and success we have had over the last four years building the product around customer pain points — and the adoption we have seen as a result, by a growing list of global marketers,” said Opal president Steve Giannini.
Opal Moments enables marketing teams to produce social media content on a cloud-based platform that includes a visual calendar which allows for collaboration and communication. Clients include Nike, Burberry, and Levis.
Opal, a 2013 graduate of the Portland Seed Fund, raised a $2.1 million seed round led by Oregon Angel Fund earlier this year. Total funding is now past $10 million.
The company is among a group of Portland startups making moves in the social media space — others include Chirpify, Little Bird, and Janrain. There’s also plenty of competition for Opal elsewhere, from Seattle companies like Simply Measured, Inside Social, and Visible Technologies — which was just sold to Vocus and Cision after raising $83 million — to Radian6, which was acquired by Salesforce in 2011.
