Advertising and marketing company WPP has invested in a $24m series B round raised by Percolate, a US-based developer of content marketing software. The round was led by venture capital firm Sequoia Capital.
WPP and Sequoia were joined by venture capital firms GGV Capital and First Round Capital, and seed stage VC fund Lerer Ventures, all three of which invested in Percolate’s $9m series A in November 2012.
Lerer and First Round previously participated in Percolate’s $1.5m seed round in 2011 alongside Neu Venture Capital, SV Angel, Advancit Capital and several angel investors.
Founded in Austin in 2009, Percolate produces marketing software based around each individual brand and enables employees to work collaboratively on all forms of marketing content, in particular social and mobile-based marketing.
In a blog post announcing the funding, co-founder Noah Brier said that the impetus behind the round had been Facebook describing itself as a mobile company in summer last year, which Brier said indicated that every marketer now needs to be a “great content creator”.