Austin-based Dachis Group acquired by a New York social media firm

Feb 20, 2014
Austin American Statesman

After growing into a leading social media analytics firm by buying smaller companies, Austin-based Dachis Group has been acquired by a New York company


Terms of the purchase by Sprinklr, a social media management software firm, were not disclosed


Dachis Group was launched in 2008 by new media veteran Jeffrey Dachis, who co-founded digital services pioneer Razorfish Inc. in New York in 1994. Razorfish was later sold to Microsoft Corp. and is now a unit of Publicis Group


Austin Ventures was a major backer of Dachis Group, initially committing $50 million to the firm for acquisitions and to develop new technology. Dachis Group has made seven acquisitions


In March, Dachis Group raised an additional $7.5 million in a funding round led by Austin Ventures


Dachis Group operates a data analytics platform that monitors social media activity for corporate customers including Estee Lauder, Heineken, Nestle and Philips


The service tracks and helps manage online conversations and content across 30,000 brands and 100 million social accounts, providing companies with insight into how customers, followers, competitors and partners are interacting with their brands.


Sprinklr, founded in 2009, develops cloud software that lets clients manage social media marketing efforts across business divisions and social platforms such as Facebook and Twitter. The company has raised $37.5 million in venture funding from investors including Battery Ventures and Intel Capital


Officials said the deal will create the largest independent end-to-end social relationship platform in the market. Together, the companies will have 400 customers and serve more than half of the Fortune 500


“Brands are looking for one infrastructure to manage end-to-end social experiences,” said Ragy Thomas, Sprinklr founder and CEO. “The addition of Dachis Group’s technology accelerates our product by at least 12 months.”


Under the deal, Dachis Group will become Sprinklr Austin and almost all of its 45 Austin employees will remain with the company. The combined company will have 300 employees


Dachis said he would remain with the company, eventually transitioning to an advisory role


Print Article opens in new window