Conversion marketing isn’t just a trend or tactic. It’s a fundamentally new way to approach marketing -- yet it’s based on the most timeless of principles: that the key to success in business is to drive sales today, while building stronger brands for tomorrow. Brought to you by Catapult.Learn more
The consolidation of social marketing companies continues.
A couple months after Apple bought social data provider Topsy, social marketing software company Sprinklr has acquired social analytics firm Dachis Group to help marketers wrap their heads around the meaning of social media mentions. Sprinklr founder and CEO Ragy Thomas declined to disclose the terms.
Dachis Group CEO and Razorfish's former CEO and co-founder Jeff Dachis will join Sprinklr's board and become the company's chief evangelist.
The deal's closest analogy may be Salesforce's acquisition of Buddy Media in 2012, which paired the social marketing company with Salesforce's social analytics firm Radian6. In the case of Sprinklr-Dachis, the pairing combines Sprinklr's publishing tools to post to brands' social networks with Dachis Group's analytics dashboard to survey what kind of content to publish based on what people are saying about a brand.
"By acquiring Dachis Group, we can bring brand analytics, content optimization and employee advocacy [features] to Sprinklr in the next three months. Otherwise it would have taken 15 months [to build]," Mr. Thomas said, referring to the combined entity as an "end to end social relationship platform."
The acquisition was driven by client demand, Mr. Thomas said. The two companies share a number of clients, including Omaha Steaks.
Sprinklr will hang on to Dachis Group's offices, including its Austin headquarters. Most Dachis Group employees are expected to transition to Sprinklr and be folded into their corresponding divisions.
Combined Sprinklr and Dachis Group have raised $95 million in funding; Sprinklr has raised $37.5 million since its 2011 launch. Mr. Thomas declined to disclose Sprinklr's revenues other than to say the figure grew by 300% in 2013, which may or may not mean anything depending on the 2012 revenue number. For what it's worth, he expects the figure to increase by 300% again this year.