With the pandemic forcing people to log on, the use of social media has exploded, for obvious reasons. And with that, the opportunity to reach audiences and spread messages. More brand-focused platforms like Sprinkler, Sprout Social, and Hootsuite have obviously increased, but traffic to Oktopost has also increased, a much more B2B-oriented proposition.
Founded in 2013, Oktopost only recorded a seed funding of $ 800,000 and has been consistently generating revenue and profit ever since. Today that is changing with a round of growth funding of a $ 20 million minority investment from London-based private equity firm Expedition Growth Capital.
The schtick of Oktopost is that it is an enterprise-grade platform for B2B marketers to select content, organize and manage campaigns for corporate social media accounts, employee advocacy and social selling. It can also handle social listening and analysis. It also offers native integrations with Adobe Marketo, Salesforce Pardot, Hubspot; and CRM systems such as Salesforce and Microsoft Dynamics. Oktopost customers include Fujitsu, Mitsubishi Electric, Xerox, SWIFT, ACI Worldwide, ContentSquare, ChargeBee, and SUSE.
The above functions have become much more important as social media users increased their interactions online and businesses need to, at the very least, pull themselves together as social media has ‘eaten up the world’ in the past 16 years. month.
Oktopost said it plans to use the financing to advance its product roadmap, increase customer success, accelerate marketing and sales, and explore strategic acquisitions; and increase its workforce by 50%.
Daniel Kushner, Co-Founder and CEO of Oktopost, said: “Our mission from day one was to establish the very first B2B social media marketing platform with the ability to measure and quantify media value. social in terms of lead generation, pipeline influence. , customer acquisition and ultimately return on investment … As the silos between marketing and sales within B2B companies break down and social selling becomes mainstream, we believe Oktopost is uniquely suited to provide desired features.
Oliver Thomas, Managing Partner at Expedition Growth Capital, said: “There are a number of social media tools aimed at B2C companies, but we haven’t seen a platform specifically suited to the B2B journey to Oktopost. . The ability to manage, track and analyze social activities is increasingly essential for B2B sales and marketing organizations. Daniel and Liad have designed the best product on the market to meet this need. They have also built a great culture and we are thrilled to be a part of the journey from here.
Speaking to Kushner, I asked him what effect the pandemic had had on the business.
“It has become the banana,” he said. “Our focus is 100% on B2B organizations. Our platform is divided into corporate social media, hence Twitter, LinkedIn company pages, etc. The second is what we call employee social advocacy, where you want your employees to be a part of the company brand, with employees sharing on a personal LinkedIn, Twitter accounts, social posts.
He said that this ecosystem – the platform to support both corporate and employee social advocacy – means they can prove the ROI for customers: “What are they getting from? do all that social? The platform is designed to provide these kinds of metrics to show the real business impact of social, the real impact it has on the business. And not just the fluff metrics you normally get on social media.