Socialware, which helps companies manage compiance with social media and sales, has raised $7 million in Series C funding led by Morgan Stanley Expansion Capital. Earlier this year, the startup raised $3 million from FLOODGATE, G-51 Capital and Silverton Partners. To date, Socialware has raised $12 million.
Socialware provides the technology and social networking compliance tools to enable the highly regulated financial services industry, specifically, to engage with clients and partners via social networks within a solid framework. The company also provides tools for lead generation in social sales channels such as Facebook, LinkedIn and Twitter.
The company says it currently services nearly 100 customers, which include five of the top insurance companies in the United States, as well as other major financial brands.Current customers include American Portfolios, Cambridge Investment Research, Guardian Life, and New York Life.