Stanford University’s Daper fund yesterday took part in an $8.5m series A funding round for US-based social media management startup Soci.
The round was co-led by VC firms Vertical Venture and Grayhawk Capital. Venture funds Peninsula Ventures and Tallwave Capital also participated.
Founded in 2012, Soci has developed a social media management service, allowing businesses and agencies to run large-scale campaigns across multiple social media accounts and services, with the ability to identify social content succeeding with target audiences.
The funding will allow the company to expand its R&D department and fund its growing sales and marketing efforts.
In 2014, Soci raised $1.5m in seed funding led by angel investor Peter Fisher, with participation from Silicon Valley Growth Syndicate.
In February 2016, GrowthX investors and assorted angel investors provided $2.25m in seed capital, according to Vator, though the deal was referred to a series A round at the time. A $5.5m series An extension was secured later that same month, according to deals database Crunchbase, though the claim is unsourced.
Warren Kay, chief revenue officer and director at Soci says: “This most recent capital raise will help us grow our user base by scaling our marketing and sales efforts while opening new verticals and channels.”
