Federal filing provides Spredfast funding details

Jan 7, 2014
Austin Business Journal

A Monday filing with federal officials featured details about a financing announced last week by software maker Spredfast Inc.


The Austin-based company, which announced in a Jan. 3 news release a $32.5 million Series D round of funding, reported raising $22.5 million of a planned $32.5 million financing, according to a Monday filing with the U.S. Securities and Exchange Commission.


Spredfast, which was founded in 2008 as Social Agency Inc., collected the capital from six investors, the filing also indicated.


The company develops software designed to enable companies to manage social media campaigns and customer acquisition initiatives. Spredfast, which employs 110 workers, has raised $66.1 million in investment capital since launching.


Investors include Lead Edge Capital, Austin Ventures LP, InterWest Partners and Boston-based OpenView Venture Partners. It plans to use the money to hire workers and invest in product development, officials said.


In February 2013, Spredfast closed on an $18 million Series C round of financing. In April 2011, it raised $2 million from a lone investor. In September 2011, the company received a $12 million funding from two investors. In 2010, it announced completing a $1.6 million Series A round of funding.


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