Oktopost, which offers a B2B platform for social media management, announced Thursday that it has secured a $ 20 million minority investment from London-based growth corporation Expedition Growth Capital. This is the first major investment the company has received as it has raised less than $ 1 million since it was founded in 2013.
Oktopost co-founders Daniel Kushner (left) and Liad Guez Photo: Yarin Taranos
The company describes its cloud platform as “a fully integrated platform for B2B social media marketing, employee representation and revenue attribution,” adding that it is “built on a single code base that B2B marketers use to curate, organize, and manage content.” easy management of campaigns for company accounts in social media, employee representation and social selling. “
It is expected that Oktopost will use its new funds to further develop its product, customer success services, marketing and distribution. Future strategic acquisitions are also possible. Oktopost’s team members are spread across Tel Aviv, London and Atlanta, and plans to increase the workforce by 50% in the second half of 2021.
Oktopost CEO and Co-Founder Daniel Kushner stated, “Our mission from day one was to establish the very first B2B social media marketing platform that demonstrates 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 as pioneers we have pioneered strong integrations that generate these for social marketing B2B companies and as social selling spreads, we believe that Oktopost is unique is suitable to provide the desired functionality. ”
“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 activities is increasingly a must for B2B sales and marketing organizations, ”said Oliver Thomas, Managing Partner at Expedition Growth Capital. “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 excited to be part of the trip from here, ”he added. Thomas will join the Oktopost Board of Directors along with Charles Covell, Investment Director who led the investment. Sales and marketing manager Rainer Gawlick will also join the board as a non-executive director.
Since its inception, Oktopost has won hundreds of customers, including ACI Worldwide, ChargeBee, ContentSquare, Fujitsu, Mitsubishi Electric, Snowflake, SWIFT, SUSE and Xerox, and over 60% of the company’s revenues come from US companies.