Further Expansion Funds for Sprout Social

Chicago-based social media engagement and analytics specialist Sprout Social has raised $40.5m in a Series D funding round, for use in developing its platform capabilities and further international expansion.

The firm offers social media listening and analytics, social management, customer care and advocacy solutions, allowing client organizations to extend their reach and create connections with their consumers. A year ago, it acquired Seattle-based analytics provider Simply Measured, which aggregates social media and web data from dozens of sources, and presents it in a dashboard that can be accessed and shared across a team.

New funding has been led by Future Fund, with participation from Goldman Sachs and New Enterprise Associates, and brings the firm's total raised to date to $103.5m. Jason Kreuziger of the Merchant Banking Division at Goldman Sachs, comments: 'The Sprout team has built a remarkable company, evidenced not only by their performance but their focus on culture, quality and their customers. Since our initial investment in 2016, Sprout has continually demonstrated their ability to lead and transform this category through best-in-class technology, tremendous leadership and their customer-centered approach'.

With a global team of 500 employees led by CEO Justyn Howard (pictured), the firm is online at www.sproutsocial.com .