December 06, 2010 08:00 ET
Shoutlet Social Media Management Platform Completes $6 Million Series B Funding
MADISON, WI--(Marketwire - December 6, 2010) - Shoutlet, provider of the most comprehensive social media management platform, today announced it has raised $6 million in Series B funding to fuel rapid company growth as it helps brands engage customers and monetize their social media communication. The investment was led by Madison-based American Family Insurance, and adds to $3.2 million in previous funding.
Adopted by brands including Perry Ellis, Rayovac, and True Religion Jeans, the Shoutlet enterprise-wide social media platform incorporates Facebook and Twitter management, Social CRM, and widget building to leverage promotions, coupons and sweepstakes. Additionally, the platform enables mobile marketing, social commerce, and real-time analytics to gauge the overall success of on-going campaigns. The solution is part of the American Family social media strategy that includes enabling thousands of independent contractor agents to individually engage with customers on Facebook.
Shoutlet will use the funding to support its ongoing double-digit growth and product development plans. Other participants in the Series B round of financing include both of the company's Series A investors, Origin Ventures and Leo Capital Holdings.
"Our growth has been extraordinary and today's funding announcement will allow us to implement our visionary ideas for social media management at an even faster pace," said Jason Weaver, CEO of Shoutlet. "As we see more and more brands turning to social media as a channel to communicate with their customers, we are excited to be at the forefront, delivering the technology that makes it simple to engage with customers as well as ensuring those engagements are effective."
Shoutlet's platform is geared specifically to enterprise-level brands that are growing quickly and need a tool that can help them build, engage, and measure all of their social media communication in one, easy-to-use interface. Shoutlet lets companies with complex structures manage their social media outreach quickly and easily, allowing for social media to be built into existing marketing campaigns.
A clear differentiator that sets Shoutlet apart is its permissioning tool, which allows corporate-level managers to deliver a directory of pre-approved content for employees to use at their disposal as well as visibility into the success of what individual employees choose to share on behalf of the company.
Shoutlet provides a centralized platform that helps companies manage and monetize their social media communication. It includes Facebook and Twitter management, Social CRM, widget building, email and mobile marketing, social commerce, and real-time analytics in one easy-to-use interface. The platform gives brands and agencies the tools to create, manage, and measure their entire social media communications. Companies using Shoutlet's platform are able to better design and implement highly targeted campaigns and ultimately improve the business impact of their social media communications.
About American Family Insurance
Based in Madison, Wis., American Family Insurance offers auto insurance, homeowners insurance, life insurance, health insurance, business and farm/ranch insurance in 19 states. American Family insurance is the nation's third-largest mutual property/casualty insurance company and ranks 344th on the Fortune 500 list. Web: www.amfam.com; Facebook: www.facebook.com/amfam; Twitter: www.twitter.com/amfam