PMD Sprinklr raises $40M round of funding, enters ads market

Sprinklr650

Sprinklr, a Facebook Preferred Marketing Developer in pages, announced this week that the company has raised $40 million in Series D funding from Iconiq Capital, Intel Capital and Battery Ventures.

Additionally, Sprinklr announced that they are getting into the social ad market. Currently, Sprinklr assists social marketing, PR, customer care and sales efforts for major companies such as Microsoft, Virgin, Samsung, Bell, Cisco and Castrol. Early clients who have managed paid media through Sprinklr have seen a 25 percent increase in ad performance.

Sprinklr CEO Ragy Thomas talked with Inside Facebook about this news and what this means for the company:

We were not actually looking for funding, so it wasn’t a planned milestone. Iconiq, they are a very powerful organization that’s flying under the radar, so we felt that it was a great partnership for us to have. That’s why we decided to take the money and let them in. … We’re convinced that paid media has to be integrated with owned and earned in a very native fashion. At the end of the day, you’re trying ot reach the same consumer. You’ve got to manage the consumer’s experience and what he sees on the right rail, in the feed, and look at it holistically. Our foray into paid, in an integrated manner, allows advertisers to control that experience.

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