Sprinklr, the martech unicorn that helps large organizations manage their social media channels, announced today it raised a whopping $105 million Series F at a $1.8 billion valuation.
The round was led by Singapore-based investment firm, Temasek. Wellington Management Company LLP and EDBI, the corporate investment arm of the Singapore Economic Development Board, also participated in the round.
Sprinklr’s software is used by over 1,200 brands to fulfill their social media management needs, which range from planning to listening, publishing, engagement and analytics. Over the course of 2015, Sprinklr became one of the fastest growing SaaS companies in history, generating $100 million in annual revenue and employing over 1,200 people worldwide.
“Modern businesses are expected to have millions of conversations, simultaneously and at the speed of social, as they flow across dozens of different channels and in and out of traditionally disconnected departments. This complex new reality requires a new class of enterprise software that goes far beyond the customer relationship management systems and legacy enterprise technologies that were designed for a siloed, structured world,” said Ragy Thomas, CEO & Founder, Sprinklr in a statement. “With departments like marketing and customer care migrating to social and working together on the same platform for the first time, Sprinklr is quickly becoming the underlying infrastructure for the world’s largest brands to unify their front office and create real, human relationships with each one of their customers.”
To date, the company has raised over $239 million in funding and acquired nine companies, including social visualization platform Postano in March 2016, audience segmentation and management platform Booshaka in November 2015, and location-specific text analytics software NewBrand in June 2015.
Sprinklr plans on using the new funding for hiring, investing in product development and streamlining customer success processes.