Lead Edge Capital leads $32.5m round for social media manager Spredfast


human team networkLead Edge Capital has led a $32.5m financing round for social media management business Spredfast.

Existing investors Austin Ventures, InterWest Partners and OpenView Partners also took part in the round, which brings the total raised by Spredfast to $63.5m.

The company, which boasts customers including Whole Foods and General Mills, produces software which helps businesses to manage their social media presence across platforms such as LinkedIn, Twitter and Facebook through a single dashboard.

Spredfast raised $18m in February last year in a round led by Boston-based venture capital fund OpenView.

Spredfast enjoyed substantial growth in 2012, seeing its revenues jump 400 per cent as it brought a number of high profile customers on board including AT&T, Caterpillar, Rackspace and Starbucks and expanded its relationships with AAA, T. Rowe Price, Whole Foods Market and Warner Brothers.

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