Sprout Social Raises Expansion Funds

Chicago-based social media engagement, advocacy and analytics specialist Sprout Social has raised $42m in a Series C round of investment, which it will use to expand both its products and customer base.

Available via web browser, iOS and Android apps, Sprout's engagement platform enables brands to communicate on social media channels; and helps employees share curated content across their social media networks.

New funding comes from Goldman Sachs, Merchant Banking Division and New Enterprise Associates, and brings the total capital raised-to-date to $60m. CEO and co-founder Justyn Howard (pictured) comments: 'We're excited to add another world-class investor to the Sprout team. Our decision to work with Goldman Sachs was based largely on its team, who share our passion for helping businesses succeed as social evolves and reaches further across organizations.'

Web site: www.sproutsocial.com .