SocialChorus Announces more than 350% Growth, Closing of Series A Round and Major Platform Enhancements
Leading Advocate Marketing Welcomes Additional Fortune 500 Clients, Closes Follow-On Funding, Updates Advocate Marketing Platform and Announces New Sales Leadership
SAN FRANCISCO, Aug. 20, 2013 /PRNewswire/ -- SocialChorus, the leading advocate marketing solution for brands people love, announced today that the company has achieved more than 350 percent growth in new customers over last year and has successfully closed a Series A round of $2.5 million. The company added a new investor, Windforce Ventures, and received additional funding from lead investor Kohlberg Ventures. To date, SocialChorus has raised $8 million in venture funding.
"Brand marketers are quickly realizing the business potential of advocate marketing," said Greg Shove, founder and CEO of SocialChorus. "Our customers are seeing significant increases in social engagement, earned media value and new customer acquisition. This momentum has been recognized by our investors and experienced start-up executives."
SocialChorus has powered over 200 advocate-marketing programs. The company added 10 new Fortune 500 brands in addition to ongoing customer relationships with AT&T, Kia Motors, Peet's Coffee & Tea, Toyota, Outback Steakhouse and Windows Phone.
SocialChorus' customer base is comprised of 8 Fortune 100 brands, 8 of the world's 50 most admired brands and 8 of the world's 100 most valuable brands, according to rankings from Fortune, Ad Age and Millward Brown. These brands are using the SocialChorus platform to manage blogger, customer and employee advocate programs.
SocialChorus has also made the following updates to its leading cloud advocate marketing platform:
- Mobile optimization: User-interface makes it faster and easier for advocates to share from any mobile device or laptop.
- Additional social networks: In addition to Facebook, Twitter and blogs, advocates can now share via LinkedIn.
- Automated social engagement detection: Detection of engagement ensures that brands realize all the social engagement value their advocates create.
The company also welcomes Brad Klaus, former CEO of Extole, a leader in referral marketing, as Chief Revenue Officer. In his new role, Klaus will lead the strategic direction, growth and success of SocialChorus's customer base.
"We're dedicated to building a team of proven advocate marketing leaders," said Shove. "Brad brings an extraordinary track record of success in the SaaS industry and deep industry knowledge. We're very proud to have him on board."
Klaus joins an executive team that has over 50 years of combined experience in marketing, selling, building and deploying enterprise-grade cloud solutions.
To learn more about SocialChorus, visit www.socialchorus.com
SocialChorus is the leading advocate marketing solution for brands people love. The company's solution combines expert social services with a world-class cloud platform that scales to millions of consumers, powering brand advocates to drive social engagement, earned media value and new customer engagement. The solution of choice for Fortune 500 brands, SocialChorus is headquartered in San Francisco and is backed by Kohlberg Ventures, Windforce Ventures and Western Technology Investments.
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