Socialeads raises $1.75 million
Socialeads has announced $1.75 million in new funding from existing investors Northwestern Mutual and Winnebago Seed Fund along with new investors Cameron Ventures, Rock River Capital and Silicon Valley’s Plug & Play Ventures. The funds will be used to grow the sales and client success teams to meet the growing demand for Socialeads in field sales organizations in both domestic and international markets.
In addition to the new round of funding, Socialeads announced the onboarding of enterprise customers Northwestern Mutual and TruChoice Financial, allowing for deployment of Socialeads to their respective field advisors. Socialeads is a part of Plug & Play Ventures Insurtech program and has launched pilots with several large insurance companies in the US and abroad.
“We are excited to share this part of our journey with our new investors and to see growing support from Wisconsin funds like Rock River Capital. We’re also proud to be helping so many advisors grow their businesses and be of service to their clients in this especially challenging time.” – Co-founder and CEO, Larry Hitchcock.
“It has been great to have a front row seat for the creation and growth of Socialeads from Reverse Pitch winner to scalable business. What Larry and team have built solves a real problem for financial advisors as they look to meet clients and prospects where they are in an increasingly digital world. I really look forward to the next stage of the company’s growth.” – Venture Partner at Northwestern Mutual, Craig Schedler.
Founded in 2018 and headquartered in Milwaukee, WI, Socialeads leverages social networks, data science and machine learning to help financial representatives find and connect with the right people at the right time.