Munich-based venture capital firm Target Partners leads Series A round to drive international expansion
Copenhagen, 19 August 2013 - SaaS social media management platform, Falcon Social, announced today that it has raised €6 million ($8m) of new equity finance. The round was led by Target Partners, with follow-on participation from existing investor NorthCap Partners. Falcon Social, based in Copenhagen, plans to use the capital to continue investment in its technology platform and to speed up its international sales & marketing expansion.
This news follows a successful year in which the company posted outstanding growth, tripled its employee headcount and signed major accounts such as Swarovski, Orangina Schweppes, Stena Line, Deutsche Telekom AG, Warner Music, Conde Nast and First Hotel Group to name a few.
With a proven business model, and ability to win flagship international accounts against head-to-headcompetition, social media management platform provider Falcon Social won the 2013 Red Herring Top 100 Europe in April after having been voted an ICT top four company at the European Venture Contest in Berlin at the end of 2012.
Falcon's visual look and feel, ease of use and ability to support large teams in multiple countries are some of the reasons why it is winning big accounts. Innovations such as Real Time Content Previewing and Reach Tracking allow users to see exactly how content will appear before it is posted and how it performs in real time immediately it is posted on social media channels. The Collaborative Calendar diarises the details and images of every piece of content planned for distribution across marketing teams. The Real Time Content Reach Performance shows how many people have looked at content by the hour.
Kurt Müller, Partner at Target Partners comments: "We have been tracking the enterprise social media management space for some time and we believe that the team at Falcon Social has the vision and leadership to build upon the success of its flagship clients and become a leader in the emerging category of social media management platforms for enterprises. Falcon has demonstrated that it has a scalable sales model winning over 70 new customers in the first half of 2013 alone."
Ulrik Bo Larsen, CEO and Founder of Falcon Social said: "We are proud to have gained Target Partners as an investor and partner. We have seen great interest from investors in this round and this reinforces our clients' belief that we are doing something extraordinary in terms of innovation and completeness of vision in this newenterprise software category. We are looking forward to introducing more groundbreaking innovations on the platform and accelerating the pace of international expansion with this new investment."
COMPLETE SOCIAL MEDIA MANAGEMENT, FOR TEAMS AND ENTERPRISES
Falcon Social provides a SaaS software platform which allows marketing departments to Create, Launch and Measure social media campaigns in real time across multiple social media types such as Facebook, Twitter, Google+, YouTube, Instagram, and display ad networks. Falcon enables marketing teams working in HQ, in local marketing groups or dealerships and insupporting agencies, to collaborate to ensure a consistent brand presence across the different social media networks.
Ulrik Bo Larsen CEO & Founder ulrik@falconsocial.com +45 29 36 75 60
Ronja Gustavsson Head of Marketing and Communication ronja@falconsocial.com +45 53 52 55 42
With €225 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in new start-up and early-stage companies, and supports them with venture capital during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States. For more details: www.targetpartners.de, follow us on Twitter: twitter.com/targetpartners or become a friend on Facebook: facebook.com/targetpartners.
Sprachperlen GmbH Agency for enterprise communication Stefan Zacher Ehrengutstraße 5 80469 Munich, Germany Tel.: +49 89 411 53 199 Fax: +49 89 411 53 200 e-Mail: stefan.zacher@sprachperlen.de
Danish venture capital company Northcap was founded in 1999. Its current and past investment portfolio contains over 40 Northern-European and US based IT start-ups. The team consists of experienced entrepreneurs and business executives that are very actively involved in growing the portfolio companies. Northcap has a particular interest in companies active in cloud computing (SaaS), e-commerce and mobility solutions. For more information, go to: http://www.northcap.vc/
Thomas Weilby Knudsen General Partner NorthCap Partners Nørre Farimagsgade 13, 1. th. DK-1364 Copenhagen K Mobile: +45 2461 4575 Phone: +45 7022 4020 Skype: thomas.weilby.knudsen www.northcappartners.com