Sprout Social, a startup building social media management tools for small and local businesses, has raised $10 million in a Series B round led by New Enterprise Associates (NEA). Money will be allocated toward growth and product development.
Businesses can use Sprout Social to manage, monitor and track their presence on social media sites such as Twitter, Facebook, Foursquare, LinkedIn and Yelp.
By specifically serving small and local businesses with low-end monthly subscription plans, Sprout Social has squeezed out a middle market in the social media management space. The product offering is meant to be robust enough for a small brand or agency; it’s a bit meatier than the likes of HootSuite, but not as pricey as Vitrue or Buddy Media