Falcon Social Raises € 15 M from Prime Ventures, Northcap and Target Partners
Falcon Social, with its SaaS social media management platform, announced today the closing of € 15 M ($ 16 M) in new funding. The Series B financing round was led by Prime Ventures and joined by existing Falcon Social investors Northcap and Target Partners, bringing the company’s total financing to date to $ 23 M. The new financing will help support the startup’s product development and innovation and support its continued global expansion.
“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 platform capable of unifying business units within the enterprise, while delivering feature-rich tools.” says CEO Ulrik Bo Larsen
“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.”
Strong growth since the start
Founded in 2010, Falcon Social set out to tackle the social media marketing needs for enterprises. Today, Falcon Social can count nearly 500 world-renowned enterprises including brands such as Coca-Cola, Jaguar, Redken, Warner Music and Carlsberg. The startups service helps it’s client listen, engage, publish, measure and manage their social media content through its unified social media management platform.
Falcon Social has maintained a track record of exceptional year-over-year growth and closed 2014 by reporting 443 percent revenue growth and 130% customer growth. The company is on track to continue that strong momentum in 2015. With offices in Copenhagen and New York, and a worldwide sales and support team, Falcon Social has over the years grown to employ 180 people, with over 38 different nationalities.
Expanding and tech
In addition to focus further on product innovation, the new financing will help the company establish an even stronger foothold globally. Especially North America. The startup plans to make significant employee hires at the leadership level and in other supporting roles.
“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 enterprises manage their social media content.” says Roel de Hoop, Partner at Prime Partners
Prime Ventures is a Amsterdam and Cambridge based venture capital firm focusing on tech, which manages over 465 million euro in committed capital. Prime Ventures joins Northcap and Target Partners which are already investors. Northcap has a strong presence in this region, and besides Falcon Social it also just announced an investment in Sekoia. Other startups in the region in it’s portfolio include Nocopo, IBA and adQuota.
Update: we incorrectly stated that the round was € 14.6 M originally. It was € 15 M.