NEW YORK — Sprinklr, a software company that tracks social media for businesses, announced $105 million in new funding that gives the company a $1.8 billion valuation. The round was led by Temasek, a Singapore-based investment firm. Wellington Management Company LLP and EDBI, the corporate investment arm of the Singapore Economic Development Board, also participated along with Sprinklr’s existing investors. The new investment brings the company’s total funding to $239 million.
Operating in 150+ countries with 1,200 employees worldwide, Sprinklr has cemented itself as the leading social media management platform for the world’s most valuable companies. More than half of the Fortune 50 and 1,200+ brands including Nike, McDonald’s, Microsoft, P&G, and Samsung use Sprinklr’s unified platform to help manage everything they do on social — from listening to planning, publishing, engagement, analytics, and more — across their enterprise, from marketing to customer care to sales.
Over the course of 2015, Sprinklr saw dramatic growth — becoming one of the fastest enterprise SaaS companies in history to eclipse $100 million in annual revenue — as a result of a strategic shift in the way businesses are investing in social. In the age of connected and empowered customers, companies are realizing that it’s no longer what they say about themselves that matters. It’s what their customers say — and the quality of the experience a brand provides — that determines whether a business survives. As a result, 89% of companies now compete primarily on the basis of customer experience — up from just 36% in 2010.
By enabling employees across the front office to collaborate on the same social platform with integrated data and workflows, global brands using Sprinklr have, for the first time, an infrastructure for understanding and engaging each one of their customers — not as data points, but as people — to deliver intuitive, personalized experiences at scale.
“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. “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.”
Over the last year, Sprinklr has added several powerful pieces of technology to its industry-leading platform. The company acquired the 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 was also recognized by Forrester Research as a leader in Enterprise Social Listening Platforms (March 2016) and Social Relationship Platforms (April 2015), the only company to achieve this level of recognition in both reports.
Since the beginning of 2015, Sprinklr has expanded its global reach to Brazil, Japan, and the United Arab Emirates, adding to its existing international operations in the UK, France, Germany, India, and Canada. In that time, Sprinklr has also announced strategic partnerships with technology and consulting titans SAP, IBM, Deloitte Digital, and, most recently, Microsoft. In October, Sprinklr was inducted into the JPMorgan Chase Hall of Innovation, which recognizes emerging tech companies for their innovation, business value, and disruptive nature.