Prime Ventures invests in Falcon Social
Falcon Social raises $16 million financing round led by Prime Ventures, the fourth investment from its €170 million fund.
Falcon Social, a leading enterprise social media management platform, completed today the closing of $16 million in new funding. The Series B financing round was led by Prime Ventures and joined by existing Falcon Social investors Northcap and Target Partners. The new financing will help support the company’s product development, innovation and continued global expansion.
Founded in 2010, Falcon Social set out to tackle the social media marketing needs for businesses, a market estimated to grow to $9.8 billion by 2018 according to MarketsandMarkets. Today, Falcon Social helps over 400 world-renowned companies listen, engage, publish, measure and manage their social media content through its unified social media management platform. These companies include Coca-Cola, Jaguar, Redken, Toyota, Warner Music and Carlsberg.
In making the announcement, Ulrik Bo Larsen, Founder and CEO of Falcon Social said, “It's a big vote of confidence to have investors of this caliber embrace the vision of Falcon Social. There is a void in the market for a scalable social media SaaS platform capable of unifying business units within the enterprise while delivering feature-rich capabilities. Our goal is to continue to evolve Falcon Social to meet that need by growing the platform organically. The new financing will help scale the business and accelerate our product development roadmap.”
With offices in New York and Copenhagen and a worldwide sales and support team, Falcon Social employs 180 people from more than 38 countries. In addition to a hyper-focus on product innovation, the new financing will help the company establish an even stronger foothold globally, with a keen focus on North America. The company plans to make significant employee hires at the leadership level and in other supporting roles.
Falcon Social has maintained a track record of exceptional year-over-year growth and closed 2014 by reporting 443 percent revenue growth and 130 percent customer growth. The company is on track to continue that strong momentum in 2015.
Roel de Hoop, Partner at Prime Partners who will now serve on the Falcon Social board said, “Our mission is to invest and help build the world’s most innovative technology companies. We are pleased to support the Falcon Social team during this exciting period of growth and look forward to see them lead the industry by changing the way businesses manage their social media content.”