Sprout Social

Sprout Social is a social media management platform that allows automatic scheduling and publishing of social media campaigns across multiple social media channels. It also provides a unified social inbox to monitor and assess its performance and the “Sprout Social Listening Tool,” which allows marketers to gather insights on the health of a brand, using tools like sentiment research, competitor comparison, and trend analysis. According to a product review in August 2021, it is the only social media management platform to provide automated responses to audience communications. In April 2023, the company launched Arboretum, a free community platform for social and marketing professionals to network with colleagues, pick up new skills, and provide tips.

In January 2023, the firm acquired Repustate, a sentiment analysis firm, to strengthen its social listening tools. In August 2023, Sprout Social acquired Tagger Media, a leading influencer marketing and social intelligence platform, to improve its social insights, measure ROI, and optimize social media strategies.

Key customers and partnerships

By end June 2022, Sprout Social had close to 33,000+ brands using its services, including Hertz, BT Group, UNICEF, Shopify, and Subaru.

In June 2021 the firm’s platform was integrated with Shopify and Facebook shops, creating a first-of-its-kind fully integrated social commerce platform. In May 2022, the firm joined TikTok’s marketing partner program to integrate its solutions with the social media platform.

Funding and financials

Sprout Social was listed on the NASDAQ in December 2019 and raised USD 149.6 million valued at USD 891 million. The purpose of the IPO was to raise funds to drive further development of its platform. In line with this, in July 2020, the firm launched a premium analytics add-on to its platform. 

In FY2022, the firm recorded a revenue of USD 253.8 million (35% YoY growth) and achieved an annual recurring revenue (ARR) of USD 296.6 million for the period. For FY2023E, the company expected revenue to range from USD 328.6 million–USD 328.7 million.