US-based social media management startup Percolate lands $24M in Series B funding
Social media management firm Percolate has raised $24 million in its Sequoia Capital-led Series B funding. Additionally, Mike Dixon of Sequoia will become part of the startup's board, according to AdWeek.
TechCrunch cited Dixon saying: "Content marketing is now the most effective way for brands to connect with their customers, and Percolate brings order to the chaos of doing so at scale."
Existing investors GGV Capital, Lerer Ventures, WPP, and First Round Capital also contributed to the financing. The New York-based startup which was co-founded by James Gross will use the capital infusion for its workforce expansion and software development, the report detailed.
According to Adweek, Percolate helps various enterprises listen and respond to social media conversations on Facebook, Twitter, and Google+, among many others. It also helps these businesses create appropriate content marketing strategies. To date, the three-year-old company has raised a total of $35 million in funding, the report added.