Percolate Raises $24m from WPP and Others

New York-based social media management specialist Percolate has raised $24m in funding in a series B round led by Sequoia Capital and including WPP, which had already invested a month ago in an interim round. Percolate says the funds will help it expand headcount and develop its software.

As part of the deal, Sequoia's Mike Dixon becomes part of the board of Percolate, whose software helps clients track social media conversations and develop content marketing strategies.

The round, which also included existing investors GGV Capital, Lerer Ventures, and First Round Capital, brings the total raised to date to more than $35m.

Founded in 2011, the company is online at www.percolate.com .