Yesterday, the Washington, D.C.-based startup NewBrand was acquired by Sprinklr, the company currently valued at $1 billion and has been making acquisitions left and right in the past 18 months. The acquisition of NewBrand, whose analytics technology provides social business intelligent solutions to help service-focused companies (hospitality, restaurant, and retail industries) improve customer relations, will improve Sprinklr's Cloud-based social media and digital content asset management software, enabling their clients to receive better insights and implement improved customer experiences.
“Modern marketers need better tools to engage with increasingly empowered consumers, and Sprinklr is providing that by changing the way that brands learn about and communicate with their customers,” said NewBrand CEO Kristin Muhlner in yesterday's statement. “Infusing our location-specific text analytics into the unmatched infrastructure that Sprinklr has built will change the customer experience marketplace.”
This is the latest acquisition from Sprinklr. Just this past April, we reported on Sprinklr's acquisition of Get Satisfaction. Sure, the piece was more of a focus on that particular acquisition's resemblance to the plotline in Silicon Valley‘s season premiere, but point still stands: Sprinklr's on an acquisition spree. Not surprising, really, considering the company's success and it's goals of heavy scaling. In March, the company raised a $46 million round led by investors Battery Ventures, Intel Capital, and Iconiq Capital – increasing Sprinklr's overall funding to $123.5 million and valuing the company at more than $1 billion.
Last May, we covered NewBrand's (previously named “newBrandAnalytics”) $5 million raise, which brought their total funding to more than $30 million. In total, the company has raised $35 million in funding from investors like Ted Leonsis, The Entrepreneurs' Funds, New Enterprise Associates (NEA), and Revolution. It's also got an impressive list of clients, which includes Dick's Sporting Goods, Kohl's, Subway, Hyatt Hotels, and the Washington, D.C. government.
As part of the acquisition, NewBrand's current D.C. headquarters and staff will now become the newest addition to Sprinklr's global offices. Terms of the acquisition were not disclosed.