Sprout Social gets $10M in venture funding

By Wailin Wong
Posted Feb. 23 at 2:26 p.m.

Sprout Social, a Chicago-based startup that helps businesses manage their social media presence across different platforms, has raised $10 million in venture funding.

Sprout Social’s initial financial backer was Lightbank, the venture capital firm run by Chicagoans Eric Lefkofsky and Brad Keywell, who helped start daily deal company Groupon. The newest round of funding was led by Menlo Park, Calif.-based New Enterprise Associates, which is also a Groupon investor. NEA has invested in other Lightbank-backed companies as well, such as Echo Global Logistics, InnerWorkings and Mediabank.

Sprout Social caters to small businesses and offers Web tools to organize their presence on different social media platforms such as Facebook, Twitter, Foursquare and LinkedIn.

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One comment:

  1. Sally Feb. 24 at 3:56 a.m.

    10. Groupon is really doing the job……I am amazed to see groupon to being so successful and actually i am also a user of groupon i passes over http://grouponbot.com on the net some 2 years ago when this service was launched and from that time i was thinking that someday this site will gain the reputation of facebook and simmilar sites. It offers cool, i mean peaceful national deals everywhere! It is starting services in Aus, China ans now in Russia too!