Socedo is raising more cash to build out its platform that helps companies target sales leads from social media activity.
The Seattle startup today announced a $1 million investment from TechStars Ventures, Vulcan Capital, Divergent Ventures and angel investors. Total funding in the 4-year-old company is $2.5 million.
Socedo, a 2013 graduate of the Microsoft Windows Azure accelerator, helps clients like Microsoft, Lenovo, Google, Extreme Networks, and more than 170 other customers streamline the process of finding sales leads on social media.
The company’s software combines real-time social media activity monitoring with profile data from sources like Twitter and LinkedIn. That information is then synced with a CRM or marketing platform like Salesforce or HubSpot.
Socedo, which saw its revenue grow by 3X in 2016, will use the fresh funding to hire more employees, develop its platform — including its predictive intelligence software — and build out integrations with marketing automation providers.
The company is also expanding its platform to help marketers not only find new leads through social media activity, but revive existing ones, too.
“With Socedo’s social intent data we can provide marketers with insights on which of those existing leads might be in-market and deserve an outreach,” explained Socedo CEO Aseem Badshah. “We can also provide the marketer an understanding of what content to send that lead based on the real-time interest signals they have shown.”
Badshah, who founded Socedo in 2013 with Kevin Yu, said his company stays ahead of its competition by processing more relevant and real-time data about intent signals for potential sales leads.
“Most intent data providers can only tell you when a prospect is consuming content on a website they track,” he said. “Socedo can provide insights when a prospect engages with a competitor or any other entity on a public social network like Twitter.”
Socedo employs 25 people, nearly double from this time last year.