Austin-based Sprinklr, a social media management platform that recently raised $46 million in equity funding at a valuation of more than $1 billion, according to TechCrunch, is adding customer feedback capabilities to its platform with the acquisition of San Francisco-based Get Satisfaction. Neither price nor terms of the deal have been disclosed. Get Satisfaction has raised $20.9 million in five rounds of funding to date. It’s existing team of 30 will join the Sprinklr team.
Founded in 2009, the company has completed five rounds of fundraising to date from three investors totaling over $100M. The latest Series E round comprised all three of the previous investors: Iconiq Capital, Battery Ventures, and Intel Capital. Headquartered in New York City, the company has 7 other offices worldwide, including one in Austin, TX.
This latest acquisition comes at the heels of a flurry of others in the last 10 months over which Sprinklr has tripled in size and acquired 4 competitors: Dachis Group, an Austin, TX-based analytics leader; TBG Digital; Branderati; and Pluck. These acquisitions were inspired by the need for a broader base of services to address the increasingly essential role that social media plays for brands, everything from customer service to marketing and recruiting. Sprinklr is optimized for large companies and counts such giants as McDonald’s, Verizon, and Nike among its clients.
Sprinklr’s platform has always allowed companies to manage numerous social channels and to collect feedback from them at scale, allowing brands to collect customer feedback on their own site aligns with the company’ announcement of the Experience Cloud, a complete infrastructure connecting all of a brand’s social platforms and allowing companies to track customers along the entire span of their engagement across multiple channels.
CEO and founder Ragy Thomas explains:
Global businesses are expanding from channel-centric and function-centric thinking in response to the increasingly connected customer. Neither point solutions nor disconnected cloud services will allow them to consistently deliver valuable customer experiences at every social touch point. Sprinklr’s Experience Cloud will allow large brands to collaborate and deliver enhanced customer experiences across social channels, brand websites, and internal silos to deepen relationships and drive business outcomes.