SOCi Raises Massive Series D Funding Round for Startup’s Marketing Platform

By Thomas Price Friday, February 5, 2021

With companies actively trying to find new ways to create engagement and revenues in local communities, businesses have been searching for new and creative solutions to bring in a larger customer base. As traditional advertising and marketing methods become oversaturated and less effective for businesses, the need for innovative strategies and help from outside sources has grown significantly. SOCi is a startup that has developed a localized marketing platform that has proven itself to be incredibly successful already. Due to this recent success, the startup raised an impressive amount of capital in its Series D funding round to further its business plans.

Businesswoman standing in the doorway of her small business.

SOCi’s Marketing Platform and Business Success

SOCi’s localized marketing platform helps promote local businesses of larger national companies to better connect with their immediate community while still maintaining a consistent national identity. The company achieves this dual front of sorts by utilizing both the national resources and assets from the larger company, along with other tools built to engage with the local audience as well.

The different business tools the startup offers include the platform itself, which offers data and insights, analysis of local listings, branded content on local pages, review and reputation management, surveys, deployment of thousands of local ads, chatbots to manage customer service, and centralized reporting. The startup’s impressive array of business management resources on the company’s platform provides insight and detailed information to help the many different businesses they serve. Additionally, the company has achieved success with a series of large scale companies already.

In fact, SOCi has worked with companies such as Anytime Fitness, Aqua-Tots, Liberty Tax, Ace Hardware, SportClips, and Fogleman Management Group. In 2020 alone, the startup brought on 100 new customers responsible for over 30,000 different new business locations. The ongoing success of the startup and its platform with a variety of different local and national businesses has led to significant attention from investors who perceive SOCi’s potential on a much larger scale.

The Company — Recent Funding Round and Future Plans

In SOCi’s Series D funding round, the startup raised an incredible $80 million. The funding round was led by JMI Equity with participation from Ankona Capital and Seismic CEO Doug Winter. The newest round of funding has raised the total capital brought in by the company up to $110 million. While SOCi plans to take this $80 million and use it to build out their current platform to include more data, the company also plans on creating programs to build more comprehensive customer profiles and rewards programs.

When commenting on the recent funding and SOCi’s place in the business world in 2021, JMI Equity’s Suken Vakil said, “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.”

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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