Socialeads, Inc. Raises $1,750,000 in New Funding to Expand Sales Team
Socialeads, Inc. has announced $1,750,000 in new funding from existing investors Northwestern Mutual and Winnebago Seed Fund along with new investors Cameron Ventures, Rock River Capital and Silicon Valley’s Plug & Play Ventures. The funds will be used to grow the sales and client success teams to meet the growing demand for Socialeads in field sales organizations in both domestic and international markets.
In addition to the new round of funding, Socialeads is proud to announce the onboarding of enterprise customers Northwestern Mutual and TruChoice Financial, allowing for deployment of Socialeads to their respective field advisors. Socialeads is a part of Plug & Play Ventures Insurtech program and has successfully launched pilots with several large insurance companies in the US and abroad.
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“We are excited to share this part of our journey with our new investors and to see growing support from Wisconsinfunds like Rock River Capital,” said Larry Hitchcock, co-founder and CEO. “We’re also proud to be helping so many advisors grow their businesses and be of service to their clients in this especially challenging time.”
“It has been great to have a front row seat for the creation and growth of Socialeads from Reverse Pitch winner to scalable business. What Larry and team have built solves a real problem for financial advisors as they look to meet clients and prospects where they are in an increasingly digital world. I really look forward to the next stage of the company’s growth,” said Craig Schedler, Venture Partner at Northwestern Mutual.
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Founded in 2018 and headquartered in Milwaukee, WI, Socialeads is an innovative machine learning company utilizing the latest AI technology to build a digital prospecting tool that generates high-quality leads for financial services companies and insurance enterprises and their advisors. Socialeads uses advanced natural language processing, personality and emotionality detection and machine learning tools to source near to fully qualified leads in an advisor’s social networks who are achieving key life-events and financial milestones and identifies the mutual connections that can offer introductions and referrals to these leads.
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