Funding from Expedition Growth Capital will accelerate the product roadmap, increase customer success, and expand sales and marketing resources to capitalize on growing demand.
Oktopost, the world’s only fully integrated platform for B2B social media marketing, employee representation and revenue attribution, announced today that it has joined forces with a $ 20 million Minority stake of London– Headquartered growth capital company Expedition Growth Capital. Prior to that round, the company had raised less than $ 1 million and has grown profitably since its inception in 2013.
Oktopost Secures $ 20 Million Growth Capital Funding for B2B Social Media Marketing Platform
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Oktopost offers an easy-to-use, enterprise-class cloud platform based on a single code base that enables B2B marketers to curate content, organize and easily manage campaigns for corporate social media accounts, employee representation and social selling. Additional modules include social listening and highly customizable native analytics that provide a full suite of social marketing features.
Oktopost is the only provider in the market with deep, native integrations with marketing automation platforms like Adobe’s Marketo, Salesforces Pardot, and Hubspot; and CRM systems like Salesforce and Microsoft Dynamics. By enabling revenue attribution from upstream marketing activities, these integrations make the platform of unique value for B2B sales and marketing organizations.
The marketing automation integrations from Oktopost bring transparency to the dialogue between B2B brands and their customers. The CRM integrations from Oktopost also provide valuable sales information for sales teams and account managers and at the same time promote social selling and communication beyond traditional e-mail and telephone. These capabilities make Oktopost the preferred platform for discerning B2B marketing organizations seeking a clearer ROI from their rapidly growing social marketing budgets.
The global martech industry is worth now $ 121.5 billion B2B companies invest in a variety of technologies to achieve their marketing goals. Oktopost was recently recognized by Gartner (Market Guide for Social Marketing Management, March 2021) and Forrester (Now Tech: Social Suites, Q1 2021).
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Oktopost plans to use the funding to advance its B2B-only product roadmap, increase its customer success function, accelerate marketing and sales, and review strategic acquisitions. The company currently has a global team that has Tel Aviv, London, and Atlanta and plans to increase the workforce by 50% in the second half of 2021.
Daniel Kushner, Co-Founder and CEO of Oktopost, said, “Our mission from day one has been to establish the very first B2B social media marketing platform that will demonstrate the value of social media in terms of lead generation, pipeline influence, customer acquisition and ultimately ROI. As former B2B marketers, we know that attribution and hard ROI are paramount, so we pioneered the development of strong integrations that generate these for social marketing. As the silos between marketing and sales within B2B companies dissolve and social selling becomes more and more widespread, we believe that Oktopost is uniquely suited to provide the desired functionality.
We are excited to partner with Expedition Growth Capital as our first institutional investor for this new phase of growth. From our first conversations with Oliver and the team, we knew this was a partnership that would add value in the years to come and we believe this is a great next step for the future of Oktopost. “
“Social media has become an increasingly important part of B2B marketing strategies and we have been using Oktopost for several years to increase our social footprint. Oktopost’s social media advocacy tool has helped us by allowing employees to play a more active role in our social media program, ”said Christopher Taine, Global Communication, ACI Worldwide.
“There are a number of social media tools for B2C companies, but until Oktopost we haven’t seen a platform that is specifically tailored for the B2B travel. The ability to manage, track, and analyze social activity is increasingly a must for B2B sales and marketing organizations. Daniel and Liad have developed the best product on the market to meet this need. They have also built a great culture and we are happy to be part of the journey from here, ”said Oliver Thomas, Managing Partner at Expedition Growth Capital. Oliver Thomas, together with the Investment Director, Charles Covellwho directed the investment will join the board of directors.
Experienced sales and marketing manager Rainer Gawlick will also join the board as a non-executive director. Rainer brings over 25 years of technology experience as an operational executive and board member of public and private companies including Progress and Meltwater.
Today Oktopost has several hundred customers, including ACI Worldwide, ChargeBee, ContentSquare, Fujitsu, Mitsubishi Electric, Snowflake, SWIFT, SUSE and Xerox. Since its inception, Oktopost has achieved rapid and profitable growth. US companies account for over 60% of its revenue. Oktopost has seen strong growth in the number and value of its accounts in recent years as social marketing has become an increasingly strategic function of marketing and sales in large B2B companies.
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