With the pandemic forcing people online, social media use exploded for obvious reasons. And with it the opportunity to reach the audience and push news. More brand-oriented platforms like Sprinkler, Sprout Social and Hootsuite have obviously increased, but so has traffic to Oktopost, a much more B2B-oriented offer.
Founded in 2013, Oktopost has only registered early stage funding of $ 800,000 to date and has generated revenue and profits since then. Today, that is changing with a growth financing round of a $ 20 million minority investment by London-based growth corporation Expedition Growth Capital.
The cool thing about Oktopost is that it is an enterprise-class platform for B2B marketers to curate, organize content, and manage campaigns for corporate social media accounts, employee representation, and social selling. It can also handle social listening and analytics. It also offers native integrations with Adobe’s Marketo, Salesforces Pardot, Hubspot; and CRM systems like Salesforce and Microsoft Dynamics. Oktopost’s customers include Fujitsu, Mitsubishi Electric, Xerox, SWIFT, ACI Worldwide, ContentSquare, ChargeBee and SUSE.
The above features have come into focus with much more prominence as social media users have improved their online interactions and businesses have had to pull together, to say the least, their actions over the past 16 months to eat the world up.
Oktopost plans to use the funding to advance its product roadmap, increase customer success, accelerate marketing and sales, and review strategic acquisitions; and increase the workforce by 50%.
Daniel Kushner, Co-Founder and CEO of Oktopost, said, “Our mission from day one has been to establish the very first B2B social media marketing platform that will measure the value of social media in terms of lead generation and pipeline impact and quantify customer acquisition and ultimately ROI … As the silos between marketing and sales within B2B companies are dissolving and social selling becomes more widespread, we believe that Oktopost is uniquely suited to providing the desired functionality. “
Oliver Thomas, Managing Partner at Expedition Growth Capital, said: “There are a number of social media tools for B2C companies, but we haven’t seen a platform that is specifically tailored for the B2B travel until Oktopost. The ability to manage, track, and analyze social activity is increasingly a must for B2B sales and marketing organizations. Daniel and Liad have developed the best product on the market to meet this need. They have also built a great culture and we are happy to be part of the trip from here. “
Speaking to Kushner, I asked him what impact the pandemic had had on business.
“It failed,” he said. “Our focus is 100% on B2B organizations. Our platform is divided into company social media, Twitter, LinkedIn company pages, etc. The second is what we call social media for Employee Advocacy, where you want your employees to be part of the company brand by having employees on a personal basis Share on LinkedIn. Twitter accounts, social messages. “
He said that this ecosystem – the platform to support both social and employee representation – means they can show customers a return on investment: “What do you get from all of these social activities? The platform is designed to provide these types of metrics to show the real business impact of social media, the real impact it is having on business. And not just fluffy metrics that you normally get on social networks. “