Data-connected Marketing Platform SOCi Raises $120m

SOCi, a data-connected marketing platform for multi-location brands, has raised $120m in a round of funding, which it will use to develop a new line of artificial intelligence marketing products, and to expand into new markets.

Through the use of advanced AI and machine learning, the SOCi platform provides users with insights and recommendations, while automating marketing tasks for hundreds or thousands of business locations. In addition, the company's SOCi Listening tool, can be used to monitor a brand's social media channels for any direct or indirect mention of a brand, topics related to a specific industry, and its competitors. More recently, the firm has launched its suite of 'Genius' products, the first of which, offers a review response management tool, which uses ChatGPT's natural language model to enable instant responses to online reviews.

The firm's new funding has been led by JMI Equity, with participation from Vertical Venture Partners, Blossom Street Ventures, and investor Renew Group Private Limited. Afif Khoury (pictured), CEO and co-founder of SOCi, comments: 'SOCi's customers have thousands of marketing decisions to make across hundreds or thousands of locations. The opportunity for optimization is incredible, but at such a scale it's stunted by true human capacity issues. Our 'Genius' products are the answer, as they will leverage sophisticated data science models to drive recommendations and automate data-driven decisions across the organization.'

Web site: www.meetsoci.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.