Sprinklr, a US-based social marketing technology provider that counts semiconductor maker Intel as an investor, raised $105m yesterday in a funding round led by Singaporean state-owned investment firm Temasek.
The funding, raised at a $1.8bn valuation, also featured EDBI, the corporate investment branch of Singapore Economic Development Board, as well as investment manager Wellington Management and undisclosed existing investors.
Founded in 2009, Sprinklr has built a social media management platform for businesses that operates across 150 countries. It claims more than 1,200 corporate customers including over half of the Fortune 50.
The software allows all of a business’s front office staff to collaborate on the same platform, and sources all available data on each individual customer so companies can market themselves more precisely on social media.
The round increased Sprinklr’s total funding to $239m, according to a company statement yesterday. Intel Capital, the corporate venturing subsidiary of Intel, took part in a $46m series E round for the company in April 2015 alongside Battery Ventures and Iconiq Capital that valued it at more than $1bn.
Intel Capital and Battery Ventures had previously backed Sprinklr’s $15m series B round in February 2013 and its $17.5m series C in November the same year, before joining Iconiq for a $40m series D round six months afterward.
Ragy Thomas, founder and CEO of Sprinklr, said: “With departments like marketing and customer care migrating to social and working together on the same platform for the first time, Sprinklr is quickly becoming the underlying infrastructure for the world’s largest brands to unify their front office and create real, human relationships with each one of their customers.”