Facebook PMD Hearsay Social raises $30M in Series C funding

HearsaySocial650

Hearsay Social, a Facebook Preferred Marketing Developer in pages and apps, announced Thursday that the company has raised $30 million in Series C funding, led by existing investors Sequoia Capital and NEA. This brings the company’s funding to $51 million.

Hearsay Social plans to use this latest investment to accelerate growth within the insurance and financial industries, ramping up product development, customer success, expanding into international markets, and boost staffing.

CEO Clara Shih commented on the latest round of investments:

From day one, our mission has been to deliver success for sales organizations in the social media era. We are humbled by these recent milestones and, above all, thank our customers for their vision and partnership.

Hearsay Social, founded in 2009, also announced several milestones the company recently reached:

  • The company has more than doubled its customer base over the past year, bringing in major clients such as Raymond James, Mutual of Omaha and Bank of the West.
  • More than 64 percent of respondents to a recent company study reported that they both generated new leads and built stronger customer relationships through Hearsay Social.
  • Hearsay Social has added sales, marketing and compliance capabilities to its product suite, including a mobile-optimized experience that includes social signals, deeper analytics to help measure return on investment, streamlined compliance functionality and multi-hierarchy workflows.
  • Hired Gary Liu as VP of Marketing and promoted Chris Andrew to Managing Director of Europe.
  • Expanded beyond San Francisco, New York, Chicago and Toronto to open a London office.

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