Enterprise social media company Sprinklr is certainly making big moves in the enterprise social space with news this week of another acquisition as the firm consolidates a credible position at the leading edge of the emerging business of enterprise-level social relationship infrastructure development.
Sprinklr adds a further dimension to its offering with the acquisition of Branderati, an advocacy influencer marketing firm, to give Sprinklr a major addition to its Social @ Scale product that manages the key and increasingly complex social channels of large companies.
Branderati’s service offering is focused on helping companies build their own advocacy networks on Facebook, Twitter and other social channels by enlisting fans and customers to market those companies, their brands, products and services.
In its news release announcing the deal, Sprinklr CEO Ragy Thomas said with 92 percent of consumers trusting recommendations from friends and family more than any form of advertising, “advocacy now must take a more central role, not only in marketing but also in the overall business strategy.” Thomas added:
Branderati has unlocked the key to sustained brand advocacy at scale and having their technology and know-how on board will mean big things for our clients.
The news release also includes some interesting metrics about Sprinklr as it now is:
Sprinklr now employs more than 500 employees in five countries and serves more than 650 enterprise brands worldwide, including:
- Four of the top five U.S. banks
- Three of the top six insurance companies
- Three of the top seven hotel chains
- Four of the top six retailers
- Tech titans such as Microsoft, Intel, Cisco, and Dell
With Branderati marking the firm’s third acquisition this year, Sprinklr has doubled in size in numbers of people. Sprinklr raised $40 million investment capital in April. Now there’s more speculation about a potential IPO sometime very soon, even this year according to some opinions.
Whether an IPO is on the close horizon for Sprinklr or not, this acquisition looks a logical step for Sprinklr if you believe that social media will become an increasingly important element in the business strategies of large companies.
If you look at many large companies and what they’re doing with social media and social channels – just check the four names mentioned above – it seem quite clear to me that a firm that can offer a holistic approach to social at scale – two very key words – is in a pretty good place today.