You will be redirected back to your article in seconds

Social-Marketing Firm Spredfast Lands $50 Million Round

Spredfast, a social-marketing software provider that counts broadcast and cable TV networks among its 650 clients, has raised $50 million in equity funding.

The funding, which brings Spredfast to a total of about $116 million in capital raised to date, was led by new investor Riverwood Capital and joined by previous investors Austin Ventures, Interwest Partners, OpenView Venture Partners and Lead Edge Capital. The company also raised $24 million in debt financing last year from Silver Lake Waterman.

In the entertainment biz, Spredfast customers include ABC, CBS, NBCUniversal, Fox, ESPN, Viacom, Turner Broadcasting, Univision Communications, BBC and ITV. Clients in other industries include Target, Whole Foods, Bank of America and Airbnb. Spredfast’s suite of tools encompasses content planning and creation for social-media campaigns; publishing to Facebook, Twitter, YouTube and other platforms; moderation of user interactions; and analytics.

Spredfast CEO Rod Favaron claimed that the company curates around 80% of the social content on TV. “We’re really connecting the world of traditional linear TV and digital social content,” he said.

Viacom, for one, has used Spredfast’s system to to develop its own analytics dashboard, the Echo Social Graph, track content distributed on social media. “With this tool we can measure the entire social conversation around our campaigns thereby fueling our understanding of our fans,” said Lydia Daly, senior VP of Viacom Velocity.

Favaron declined to disclose Spredfast’s valuation with the funding, which he called a “vanity metric,” but said it was an up round. The company will invest the new funding in product development. “The world of social is if nothing else crazy fast-paced,” Favaron said.

In 2015, the privately held company had a $100 million sales run rate, and grew revenue 130% versus 2014, according to Favaron. The company has made two acquisitions to date: Mass Relevance, an aggregator of social conversations and data, in 2014, and social-marketing software startup Shoutlet last year.

Spredfast’s key competitors are customer-relationship management offerings from Oracle, Salesforce.com and Adobe Systems. Austin, Texas-based Spredfast, founded in 2008, currently has about 550 employees.

More Digital

  • Evan Williams, Twitter founder (R) and

    Twitter Co-Founder Evan Williams Steps Down From Company’s Board

    Twitter co-founder Evan “Ev” Williams is stepping down from the company’s board, Twitter announced in a SEC filing Friday afternoon. Williams will depart from the board at the end of this month, according to the filing. “It’s been an incredible 13 years, and I’m proud of what Twitter has accomplished during my time with the [...]

  • Facebook Logo

    Facebook Shuts Down Controversial Ovano VPN App

    Responding to a continued backlash over its data collection practices, Facebook pulled the plug on its Ovano VPN app Friday. Ovano, which promised users an added level of privacy while using public Wifi hotspots, was used by Facebook for market research purposes. Facebook removed the app from the Google Play store Friday, and the company [...]

  • Smosh

    Smosh Acquired by Rhett & Link's Mythical Entertainment

    UPDATED: Smosh, the long-running YouTube comedy brand, has been acquired by Mythical Entertainment, the company formed by Rhett & Link, hosts of comedy show “Good Mythical Morning.” As first reported by Variety last week, Mythical emerged as the leading candidate to buy Smosh, which was left stranded after parent company Defy Media shut down without [...]

  • China Video Streaming Giant iQIYI Loses

    Chinese Video Giant iQIYI Loses $1.3 Billion in 2018

    Chinese video streaming firm iQIYI lost over $1.3 billion in 2018, as revenues and subscriber numbers ballooned. The deepening losses reflected ever higher spending on original content production. Announcing its first full-year financials since a March IPO that launched it onto the NASDAQ, iQIYI said that it lost $1.3 billion (RMB9.1 billion) last compared with [...]

  • Roku headquarters

    Roku Aims to Top $1 Billion in Revenue in 2019, Beats Holiday Quarter Earnings Expectations

    Roku wants to become a billion-dollar company in 2019, and invest more in its ongoing international expansion. The streaming-device maker told investors on Thursday that it expects to generate between $1 billion and $1.025 billion this year, and that international growth was one of its key investment areas for 2019. Roku made these announcements as [...]

  • Vice Media

    Vice Media Taps Joe Simon as Chief Technology Officer (EXCLUSIVE)

    Joe Simon has been tapped as chief technology officer at Vice Media. The newly created role will include oversight of data analytics, engineering, information technology, media operations, media technology, post production, and systems management. Prior to Vice, Simon spent three years as Encompass Digital Media’s chief operating officer. Previously he held the chief technology officer [...]

More From Our Brands

Access exclusive content