This latest round for the two-time Inc. 500 honoree comes from Vertical Venture Partners, Grayhawk Capital, Blossom Street Ventures, and new investor Ankona Capital
Originally published on Business Wire on January 30, 2020.
SAN DIEGO—January 29, 2020—SOCi, Inc., the leading social and reputation management platform for multi-location businesses, today announced it closed an oversubscribed Series C funding round of $15 million co-led by Vertical Venture Partners, Grayhawk Capital, and newcomer Ankona Capital with participation from Blossom Street Ventures. SOCi closed its Series B in 2018 and has raised roughly $35 million since its founding in 2012 to help national companies compete and connect on a local level.
In 2019, SOCi cemented its role as a localized marketing leader, recognized by Street Fight as the best social media platform in its 2019 Innovator Awards, Inc. Magazine as one of the 500 fastest-growing companies in America, and Entrepreneur as a Top Suppliers for Franchises—the latter two both for a second consecutive year. Signaling the growing importance of localized marketing to brands, SOCi was also recently named the new global platform of record for localized social marketing for Self Esteem Brands (the parent company of Anytime Fitness, Waxing The City, Basecamp Fitness, and The Bar Method).
“The latest research proves that category leaders in localized marketing see significant revenue and business impact from successful local strategies. Our partners, who are some of the largest franchises and multi-location corporations in the world, routinely tell us how important localized marketing has become to their business,” said Afif Khoury, CEO of SOCi. “Whether it’s through local search, social, reviews, reputation management, or advertising, engaging customers at the local level is absolutely critical. This investment will help SOCi continue to build out its platform to allow our enterprise partners to centrally manage all of their local digital channels and assets that are core to their localized marketing presence in a single platform.
SOCi devoted much of the last year to introducing a number of unique solutions to its product suite—SOCi Ads PLUS, Reputation insights, Listings Management, and Google Posts integration—to help clients like Ace Hardware, Sport Clips, and others better manage their brands on a local level. This latest funding round will enable the company to bring even more innovative products to market that allow enterprise companies to generate a holistic view of the local customer journey.