Sprout Social is announcing a big Series C round of funding — the company says it has raised $42 million from Goldman Sachs’ Merchant Banking Division and New Enterprise Associates.
Brands using the company’s tools for monitoring and publishing to social media include Hyatt, Marvel, Microsoft, Uber, Zendesk and Zipcar. It says it’s currently working with more than 3,000 agencies, 8,000 small businesses and 5,000 mid-market and enterprise organizations.
“[CEO Justyn Howard] and his team have done an impressive job building this high-growth, profitable company within the social media management software market,” Kreuziger said in the funding release. “The business performance of Sprout meets or exceeds that of best-in-class SaaS companies, while the product’s ease of use and scalability has led to its adoption in customers ranging in size from SMBs to Fortune 500 enterprises.”