SocialTouch, China’s Enterprise Social Media Management Leader, Raises Series C From Sierra Ventures
Funding To Be Used For Product Development And Customer Acquisition
MENLO PARK, Calif., – Oct. 16, 2013 — SocialTouch, the leading social media management company in China, today announce a Series C investment round lead by Sierra Ventures and including existing investors GGV Capital and Legend Capital. This new round of funding will be used for product development and customer acquisition.
Founded in 2011, SocialTouch is the largest player in China’s enterprise social media management space, with about 100 influential brand customers including P&G, IBM, ECCO, Red Bull, ACER, Lenovo, KingSoft, Lakala, and LiNing. Companies use SocialTouch’s social media suite to easily and effectively curate and manage their social marketing message, monitor social voice from customers, and launch social marketing campaigns across all the dominate social networks in China, such as Sina Weibo, Wechat, and Renren.
“Social media management is a growing pain point for all enterprises in every country in the world,” said Ben Yu, Managing Director of Sierra Ventures. “U.S. companies such as BuddyMedia, Radian6 and Wildfire have proven that. SocialTouch’s strong team, deep technology and impressive customer base influenced our investment, joining two other top VCs in China, GGV Capital and Legend Capital.”
“The demand in China for social media management in the enterprise, including targeted and data-driven social marketing, is impressive and we expect it to grow substantially,” said Rui Zhang, CEO and founder of SocialTouch. “This funding will help SocialTouch provide for our customers while building partnerships with software vendors and PR and ad agencies, enabling us to deliver against the demand.”
SocialTouch is currently the only vendor in China that provides a complete end-to-end solution for both large enterprises and SMEs. SocialTouch launched the first enterprise-facing social media management SaaS product in China. In 2013, SocialTouch released its social media management suite for SME, named as “PinQu”, which has thousands of paying customers with recurring revenue.
SocialTouch is China’s leading social media management solutions provider. SocialTouch serves more than 30 international and domestic enterprises including: Procter & Gamble, Red Bull, Lenovo, Durex, Dell, Dettol, Shell, Coca-Cola, Rongchang Pharmaceutical, China Ping An, and other name brands. SocialTouch has offices in Beijing, Shanghai and Guangzhou. For more information visit: http://www.social-touch.com/