Engagio, a social web platform for searching, discovering and following social conversations, has been acquired by marketing company Influitive, hot off the heels of its $7.3 million funding this past December. Terms of the deal were not disclosed, but the deal was a combination of cash plus stock. As a part of the acquisition, all five employees, including the founder and CEO William Mougayar, will join Influitive, where the technologies the startup developed will now be integrated into Influitive’s AdvocateHub, an advocate marketing platform.
Engagio’s tools will help with the tracking and monitoring of social conversations in the AdvocateHub.
“Advocate marketing” is the industry term which refers to process where brands and businesses try to get their fans to share their experiences across the social web. Marketers claim that peer-to-peer recommendations and real user feedback contribute to up to 50 percent of purchasing decisions today, which is why social media tools that help with this type of marketing have been embraced.
Influitive, a marketing company that analyses data around social media, influencer networks and other peer-to-peer techniques to spread the word, has raised another $7.3 million — investment that it will use to continue developing its AdvocateHub marketing platform, as well as to build out its own sales and marketing teams, CEO and co-founder Mark Organ told TechCrunch in an interview.
How to associate your social media
Influitive has raised $3.75 Million from 11 investors for the company's customer advocate platform that helps companies generate qualified leads and shorten buying processes. Founder Mark Organ said the unusual seed round is illustrative of how the venture capital community is getting more engaged in smaller deals. "It's a huge seed round," Organ said in an interview yesterday. "It could be called a seed preferred round."
Received $3.75M Seed Funding