Sprinklr Adds $46M To Coffers To Continue Acquisitions

To continue its aggressive expansion efforts, Sprinklr just raised another $46 million at a valuation of just over $1 billion.

"With this new round of funding, we’ll continue building out our enterprise technology product [and] hire more employees," Sprinklr CEO Ragy Thomas said on Tuesday.

Investors including Intel Capital, Battery Ventures and Iconiq Capital have now pumped about $123 million into the social media management firm.

Sprinklr appears to be spending capital nearly as fast as it can line up investors. Just last month, it agreed to buy the social community software specialists at Pluck from media-holding company Demand Media. Financial terms of the deal were not disclosed, but Demand picked up Pluck for a reported $75 million in 2008.

With Pluck, Sprinklr gained the ability to help large brands display social content within ecommerce and other owned properties. Pluck also brought with it about 75 brand clients, including L’Oréal, Mattel and Walgreens.

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Last September, the New York-based Sprinklr scooped up word-of-mouth marketing shop Branderati for an undisclosed sum, while, last October, it agreed to buy social-marketing veteran TBG Digital. The addition was expected to give its clients a clearer picture of cross-channel media spends, and paid media in particular.

Earlier in 2014, Sprinklr acquired Dachis Group and its social analytics and optimization technology. Dachis’s social consulting practice was also added to Sprinklr’s services enablement practice.

Sprinklr boasts hundreds of clients, including GM, Virgin America, Samsung and Microsoft.

In recent years, consolidation in the social-marketing space has been constant. Other notable tie-ups include Lithium Technologies’ agreement to buy Klout for a reported $200 million, and more recently, Mass Relevance merging with Spredfast

Last year, social media was expected to have the highest cumulative aggregate growth rate across all channels, according to Forrester Research.

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