Sprinklr, which describes itself as “the largest independent social relationship platform provider,” just announced that it has raised $40 million in Series D funding. It’s also launching its first “paid social media solution,” i.e., a product for managing ad campaigns on Facebook and Twitter.
With the new product, Sprinklr says its customers can plan, execute, and measure their social media activity (ad-related or otherwise) in one product. Early testers of the ad tools have supposedly seen a 25 percent increase in the return on investment of their campaigns, and general availability scheduled for six weeks from now.
The round was led by Iconiq Capital with participation from previous investors Battery Ventures and Intel Capital. It brings Sprinklr’s total funding to more than $77 million.
“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,” said Battery’s Neeraj Agrawal in the funding release.
The news follows Sprinklr’s acquisition of social media monitoring company Dachis Group earlier this year.