Israeli startup Oktopost announced the closing of a $20 million funding round from Expedition Growth Capital. To date, the company, which developed a B2B social media marketing platform, has raised nearly $21 million.

Managing social networks for enterprises

The Oktopost system helps B2B enterprises manage social media marketing on Facebook, LinkedIn, Twitter, YouTube, Instagram, and more. Marketers use the system to help create campaigns and launch them over targeted social networks. Furthermore, the platform monitors, listens, and responds to posts and comments relevant to the enterprise customer. Additionally, the platform also offers complete analytics to track campaign performance, market research, and more.

Daniel Kushner, co-founder and CEO of Oktopost, responded to the round, saying: "Our mission from day one was to establish the first ever B2B social media marketing platform with the ability to measure and quantify the value of social media in terms of lead generation, pipeline influence, customer acquisition, and ultimately ROI. As former B2B marketers, we know attribution and hard ROI are paramount and as a result we have been first movers in developing strong integrations that generate these for social marketing. As siloes break down between marketing and sales within B2B companies, and as social selling becomes more widespread, we believe Oktopost is uniquely suited to provide the functionality desired…”

You’re raising a modest amount of capital for an 8-year-old company. Why now? Why not raise more?

Kushner: “The company raised less than $1 million for its Seed round, and has grown based solely on increased revenue. With the outbreak of the global pandemic, Oktopost witnessed a sharp rise in social media use. Additionally, more B2B enterprises have adopted social networks as a channel to help accelerate growth. The plan is to use the capital to continue growth, recruit new talent, and make strategic acquisitions.

Oktopost was founded in 2013 by Daniel Kushner and  VP Product Liad Guez, and holds offices in Tel Aviv, London, and Atlanta. Oktopost provides service to hundreds of customers, including Fujitsu, Mitsubishi Electric, ACI Worldwide, SWIFT, and others.