News, Technology

HearSay Social raises $30 mn for its tools to generate sales from social networks

HearsaySocial (1)Hearsay Social, an internet based startup that help businesses to generate sales using social networks – has raised another round of funding. Led by led by existing investors Sequoia Capital and NEA this series C funding worth $30 mn has brought the company’s outside funding amount to a total value of $51 million.

The raised funds will be deployed to accelerate growth within the insurance and financial industries, ramping up product development, customer success, expanding into international markets, and boost staffing.

Helping salespeople to avoid cold calling, Hearsay closely work with social networks such as Facebook, LinkedIn,Twitter and Google+ to generate sales for its clients. Its service is been used by companies like Raymond James, Allianz Global Investors, Bank of the West and Nationwide Insurance among others.

“From day one, our mission has been to deliver success for sales organizations in the social media era, We are humbled by these recent milestones and, above all, thank our customers for their vision and partnership.” said Clara Shih, commenting on the latest round of investment.

Launched in 2009, Hearsay opened up an office in London earlier this year and plans to open additional offices and hire employees in Europe.

Another similar startup Hootsuite who is working close to Hearsay earlier raised $165 mn in its series B round. Hootsuite works for clients like  PepsiCo, Virgin, Orange, Sony Music, Telus and HBO among several other.

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