Oktopost Secures $20 Million In Growth Equity Funding For B2B Social Media Marketing Platform
Funding from Expedition Growth Capital will accelerate product roadmap, expand customer success and grow sales & marketing resources to capitalise on burgeoning demand.
Oktopost, the world’s only fully integrated platform for B2B social media marketing, employee advocacy and revenue attribution, announced today that it has secured a $20 million minority investment from London-headquartered growth equity firm Expedition Growth Capital. Prior to this round, the business had raised less than a million dollars and grown profitably since inception in 2013.
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Oktopost provides a user-friendly, enterprise-grade cloud platform, built on a single code base, where B2B marketers can curate content, organize, and easily manage campaigns for corporate social media accounts, employee advocacy and social selling. Additional modules include social listening and highly customisable native analytics, providing a full suite of social marketing functionality.
Oktopost is the only vendor in the market with deep, native integrations with Marketing Automation Platforms such as Adobe’s Marketo, Salesforce’s Pardot, and Hubspot; and CRM systems such as Salesforce and Microsoft Dynamics. By enabling revenue attribution of upstream marketing activity, these integrations make the platform uniquely valuable to B2B sales and marketing organisations.
Oktopost’s marketing automation integrations bring transparency to dialog between B2B brands and their customers. Oktopost’s CRM integrations also deliver valuable sales intelligence to sales teams and account managers while promoting social selling and communication beyond traditional email and phone. These capabilities make Oktopost the preferred platform for sophisticated B2B marketing orgs seeking clearer ROI from their rapidly growing social marketing budgets.
The global martech industry is now worth $121.5 billion with B2B organizations investing in a variety of technologies to help them reach their marketing goals. Oktopost has recently been recognised by Gartner (Market Guide for Social Marketing Management, March 2021) and Forrester (Now Tech: Social Suites, Q1 2021).
Oktopost plans to use the funding to advance its product roadmap focused solely on B2B requirements, boost its customer success function, accelerate marketing and sales, and explore strategic acquisitions. The Company currently has a global team spread across Tel Aviv, London, and Atlanta and plans to grow its workforce by 50% in the second half of 2021.
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Daniel Kushner, co-founder and CEO of Oktopost, said: “Our mission from day one was to establish the first-ever B2B social media marketing platform with the ability to measure and quantify the value of social media in terms of lead generation, pipeline influence, customer acquisition, and ultimately ROI. As former B2B marketers, we know attribution and hard ROI are paramount and as a result, we have been first movers in developing strong integrations that generate these for social marketing. As siloes breakdown between marketing and sales within B2B companies, and as social selling becomes more widespread, we believe Oktopost is uniquely suited to provide the functionality desired.
We are delighted to be partnering with Expedition Growth Capital as our first institutional investor for this new phase of growth. From our first conversations with Oliver and the team, we knew this was a partnership that would deliver value over years to come, and we think this is a great next step for the future of Oktopost.”
“Social media has become an increasingly important part of B2B marketing strategies, and we’ve used Oktopost for a number of years to help expand our social footprint. The Oktopost social media advocacy tool has helped us by empowering employees to play a more active role in our social media program,” said Christopher Taine, Global Communications, ACI Worldwide.
“There are a number of social media tools out there catering for B2C companies but we haven’t seen a platform that is specifically tailored to the B2B journey until Oktopost. The ability to manage, track and analyse social activities is increasingly a must-have for B2B sales and marketing organisations. Daniel and Liad have built the best product in the market to serve this need. They have also built a terrific culture and we’re excited to be part of the journey from here,” said Oliver Thomas, Managing Partner at Expedition Growth Capital. Oliver Thomas, along with Investment Director, Charles Covell, who led the investment, will join the board of directors.
Seasoned sales and marketing executive Rainer Gawlick will also be joining the board as a non-executive director. Rainer brings over 25 years of experience in the technology sector as an operational executive and a board member of public and private companies, including Progress and Meltwater.
Today, Oktopost has several hundred customers including ACI Worldwide, ChargeBee, ContentSquare, Fujitsu, Mitsubishi Electric, Snowflake, SWIFT, SUSE, and Xerox. Since inception, Oktopost has achieved rapid and profitable growth. Over 60% of revenues are from U.S.-based companies. Oktopost has enjoyed strong growth in the number and value of its accounts in recent years as social marketing has become an increasingly strategic function of marketing and sales in large B2B organisations.
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