SOURCE: Socialware


October 25, 2010 09:00 ET

Socialware Posts Record Growth as Financial Services Professionals Embrace the Social Enterprise

Austin Start-Up Continues Path of Explosive Growth Through Innovative Products, Which Are Enabling the Financial Services Industry to Create a Viable Channel in Public Social Sites

AUSTIN, TX--(Marketwire - October 25, 2010) -  Socialware, a leader in social media compliance, today announced that demand continues to accelerate for Socialware's technology, products and services. The company, which launched out of stealth in December of 2009, added 25 new financial services customers in the third quarter of 2010 and has seen a 250% increase in growth over 2009. Moreover, the company continued to innovate through their Social Middleware platform with game-changing products for the financial services industry, including Socialware Compass, the industry's first tool for automating social networking policy on public social networks, and the recently launched Social Media Policy Accelerator Kit, which provides a tailored, step-by-step framework to help companies efficiently create a social media policy that fits the unique needs of their business. To support the growth of social media best practices and knowledge, the company also launched, a site dedicated to catalyzing and leading the conversation on social media best practices in the financial services industry. Today, Socialware is the undisputed market leader in enabling financial service brands to create a secure and viable business channel through the social web.

"Public social networks represent a revolution in the way that financial services professionals connect with consumers, partners and employees -- and we are working hand-in-hand with our customers to ensure that this shift happens in a compliant, secure and effective way," said Chad Bockius, CEO of Socialware. "Where six months ago financial services companies were cautious and weary of social media, now we're seeing heavy interest in getting programs and strategies going to take advantage of this medium. We're extremely proud to be an accelerant and partner in this adoption."

Key highlights in the last 10 months include:

Sales and Market Success
Socialware currently services 11 of the top independent broker dealers in the nation, a top-five wealth management firm, as well as major financial brands, including New York Life Insurance Company. Socialware has also expanded its strategic partnerships in order to best serve its financial services customers, having signed agreements with innovative messaging and discovery vendors, including LiveOffice and Smarsh, as well as financial regulatory agencies like LIMRA. Most recently, Global Relay, a leading SaaS Archiving provider for Compliance, eDiscovery and Mobile messaging has partnered with Socialware to enable social media compliance for its 14,000 customers. Moreover, Socialware was recognized by Gartner as a Cool Vendor in Cloud Security Services in April of 2009.

Innovative Products and Services
As the only vendor to date with native integration with all major social networks, Socialware is the only company that can enable users to fully take advantage of the places, platforms and conversations where constituents are engaging on the Web -- any time, any place and on any device. To enable companies to take advantage of the opportunities in today's social world, Socialware has launched several products and services that address the unique business needs of regulated companies in social media, including Socialware Insights, a one-stop-shop for best practices, research and data on social media in regulated industries.

Most recently, the company launched the Social Media Policy Accelerator Kit, which was developed to help firms take tangible next steps towards enabling Social Media in a way that maximizes business benefits and remains compliant with regulations. This step-by-step process helps ensure that firms spend their efforts creating a policy that will work while allowing them to learn about how to ultimately optimize the use of Social Media for producers, supervisors, and employees.

Thought Leadership
As part of its commitment to educating the financial services industry on the opportunities and risks associated with social media engagement, Socialware launched, a community for financial professionals to discuss social media issues, best practices and news. As part of this effort the company created the SocialTurns Council, a group of industry professionals from companies like Prudential, American Century and LIMRA to help ensure the success of the community. Socialware's ground-breaking research on social media usage among financial advisors was also featured in the Wall Street Journal, among other outlets.

Corporate Growth
To accommodate the company's growth, Socialware has enlivened its leadership team with the appointment of Mike Williams as Vice President of Sales and Business Development. To date, the company has received funding with high-profile venture capital firms, including G-51 Capital, Silverton Partners and Maples Investments.

About Socialware
Based in Austin, Texas, Socialware bridges the gap between the enterprise and social networks to transform the way that companies and their employees engage and communicate with clients, partners and one another. Leveraging the industry's first Social Middleware platform, Socialware's technology allows companies to transform public social networking sites like Facebook, Twitter and LinkedIn into enterprise-grade channels within the framework of their existing business processes. You can find out more about Socialware at, as well as on Twitter: @Socialware. You can also read their blog:

Contact Information

  • For more information contact:
    Mickey Nelson
    Brady Public Relations
    Email Contact