UK's startup Brand Embassy secures $1M from Rockaway Capital and Spread Capital in seed round
Brand Embassy has obtained $1 million from Rockaway Capital and Spread Capital in its seed financing round, TechCrunch reported.
The investment from the two new funds served as an exit from the UK startup's early investors. One of them was CEE technology accelerator StartupYard, the incubator of Brand Embassy, and the other was Kindred Group owner Michal Nydrle, the report said.
Brand Embassy gives companies social media based customer care services so they can manage communications with their clients through Facebook, Twitter and similar channels. Founded in 2011, the startup only rolled out its service in 2012. The company said it will utilize the proceeds from the latest round to add more features to its product as well as to open six new offices around the world in its efforts to add to its roster of 50 international customers. Brand Embassy currently counts Vodafone, Johnson & Johnson, Telefonica O2, T-Mobile, GE Money, ING, KIA and Prezi, among others, in its client list, the report said.
In a statement about the funding, Brand Embassy CEO Vit Horky said, "The partnership with new investors will help us expand our sales and product development team and launch new unique product features."
The two new backers of Brand Embassy look forward to the startup's growth worldwide because of the increasing role that social networks play in the realm of customer care. Because Brand Embassy is offered as a software-as-a-service, users are able to handle a number of social media sources and produce different kinds of reports. The firm's premium offering also combines with Salesforce.com, the report said.
Jakub Havrlant, the Internet investor who backed the startup via Rockaway Capital, said in the statement, "I see Brand Embassy as a global project which already has a strong position and I am anticipating substantial growth as this whole segment of caring for customers via social networks grows in importance."