Sprinklr launches new ad tools, receives $40 mln Series D funding
Sprinklr, self-described "largest independent social relationship platform provider," pockets $40 million in a series D round led by Iconiq Capital followed by existing investors Battery Ventures and Intel Capital.
The new funds, now totalling $77 million, comes as the company launches a new ad mangaement tool that helps manage campaigns on Facebook and Twitter. The tool implements and weighs activities from social media sites that could be advertisement related in a specific item. A test was conducted using the ad tools which turned in 25 percent increase return of investment following the campaigns. The test has concluded to launch the new product after six weeks from today.
Neeraj Agrawal of Battery Ventures said in reference to the funding release, “The introduction of an integrated, paid social media module is a big step for Sprinklr, and will be welcomed by large businesses now struggling to patch together their own social solutions.”