Thismoment Raises $22M to Further Solidify Social Marketing Position
Social media is a huge market that branches out across several different areas, and enterprise is among them. Thismoment is among the more prominent vendors that managed to capitalize on an organization’s need to manage its presence across Facebook, Twitter and mobile, evidently getting the attention of VCs along the way.
Today the company announced it raised $22 million in a third funding round led by Trident Capital. Venture partner Eric Jeck was picked to join Thismoment’s board of directors, and is now serving alongside Mark Fernandes of Sierra Ventures and Tim Mayhew, the managing director of Fenway Partners.
“We are excited to support Thismoment’s rapid growth in the emerging social content management space. Thismoment provides robust solutions that help enterprises market in a more engaging manner, utilizing rich media and user generated content, user profile data and insights from user behaviors.”
The firm’s flagship solution is the Distributed Engagement Channel platform, which has seen a lot of growth based on some of the statistics provided by the company. Thismoment’s revenue tripled in 2010, and currently over a fifth of the Fortune 500 companies are using DEC to handle their social media interactions.
The funding will be used to strengthen operations in the U.S. and expand to Europe, Asia and Latin America. A sizable portion of the money will be going into development as well.
Thismoment has managed to establish itself in a very solid position within a market that is only becoming more valuable. SAP made a $4 billion push into this industry with the acquisition of Ariba, and rival oracle followed suite with two buyouts of its own. Something similar happened after the German BI firm bought SuccessFactors last year.
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