US-based SOCi, an all-in-one marketing platform built for multi-location marketers raised US$ 80M in Series D round on 21 January 2021.
Investors: The funding round was led by JMI Equity, along with participants including existing investors, Ankona Capital, and personal investments from SOCi’s CEO and co-founder Afif Khoury and Seismic co-founder and CEO Doug Winter.
What the funding is for: The funds will be utilized to accelerate growth, with investments in its sales and marketing teams, an aggressive line-up of product innovations, and strategic M&A activities.
About SOCi
Founded in 2012 by Afif Khoury and Alo Sarv, SOCi is a platform built for multi-location marketers. It provides solutions to address the complex needs involved in deploying and scaling a successful localized marketing program. SOCi is the only centralized platform built for both the enterprise and local teams. Its customers include top brands and influencers like Sport Clips, Ace Hardware and Anytime Fitness who face the indelible challenge of managing their digital presence across multiple locations. SOCi helps top brands and their locations to strengthen and scale their digital presence across local search and social pages while protecting their reputation.
The company claims that its platform is used by more than 350 national and global enterprises to manage their local search, social, reviews and ad campaigns for over 100,000 business locations. In 2020, SOCi added close to 100 new customers and nearly 30,000 additional business locations to its platform. SOCi is continuously investing in its product innovation and adding new features to its platform.
SOCi has received many accolades such as Inc. 5000 Fastest Growing Companies in America award, Top Franchise Supplier by Entrepreneur Magazine and “Best Marketing Resource Management Platform” at the 2020 Martech Breakthrough Awards.
What the founders have to say: “The localized marketing movement could not have been more important than it was in 2020. For multi-location enterprises, the ability to connect with local audiences across numerous key marketing channels was critical to keeping their local businesses afloat. SOCi’s comprehensive platform was built to optimize that local engagement in every meaningful way, and we are proud to have empowered so many brands and their locations to thrive in an environment where so many have struggled,” said Afif Khoury.
What Investors have to say: “All signs point to an equally difficult first few months of this year for restaurants and other businesses dependent on their communities. This means there will be a continued need for localized marketing campaigns that align with national brand values but also provide for community-specific messaging. SOCi’s multi-location functionality positions it as a market leader that currently stands far beyond its competitors as the must-have platform solution for multi-location franchises/brands,” said Suken Vakil, General Partner at JMI Equity.
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