This week Cultivation Capital, a leading St. Louis based early-stage VC firm, announced that they have funded Gremln to the tune of $500,000. Gremln has built a comprehensive set of tools designed to give companies peace of mind by ensuring that their social media communications are compliant to SEC, FINRA, FFIEC, FDA, and HIPAA regulations.
“Gremln has seen significant growth in the past months and there is a large need for social media compliance software for many industries to help control what is being shared through social media,” says Tim Stern, who will be joining Gremln's Board of Directors.
Since Gremln's start in 2011, financial regulatory bodies have continued to issue and update guidance regulations holding banks, credit unions, and other financial institutions accountable for social media activities and communications. As a result, regulated industries have been virtually unable to harness the benefits of social media marketing.
Ryan Bell, founder of Gremln, has extensive experience with building web apps, and he's built Gremln to help regulated industries utilize social media with a higher degree of confidence. Specifically, the platform addresses the need for filtering, monitoring, and archiving social media communications.
According to Bell, financial organizations can't afford to not participate in social media, and they can't afford to not have a compliance and marketing platform.
“Gremln is the preeminent social media management tool for regulated industries,” finishes Bell.