Denim Social Closes $5 Million Series B Investment Round
EQ IQ- 2 Min Read
351 Views- Visitors
In order to offer transparency into how our stories are produced and to teach our readers about the importance of media literacy online, EQ's editorial team provides a quick self-rating of the integrity of the articles and the facts presented against the following EQ IQ metrics.
- Published on October 26, 2021
- In Press Release
- Directly Sourced
- Email Interview
- Edited by EQ
- Submitted by EQ Member
- Suggested by Denim Social
Social marketing automation platform that unlocks the power of social media for Regulated Industries is now valued at $30M.
Denim Social recently announced completion of a $5 million Series B round of financing with FINTOP Capital and partner, JAM FINTOP BankTech, an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The funds will support product development and drive significant marketing and sales expansion for the St. Louis-based SaaS provider.
With the Series B investment round, Denim Social is valued at $30 million. The new funding builds on a $4 million Series A round completed in 2020, led by Hermann Companies.
Since then, the company has expanded its product offerings to include social media content curation and Instagram management. The FinTech Marketing startup is growing its team and hiring for a variety of sales, marketing and product development roles, both remotely and in St. Louis.
Denim Social empowers marketers in regulated industries to build stronger customer relationships on social media with tools that manage organic content and paid advertising on one platform. Built for compliance, Denim Social is trusted by more than 250 institutions in banking, mortgage, insurance and wealth management.
“Financial institutions are rapidly accelerating their digital strategies in today’s environment and Denim Social can help them humanize their brand on social media, while staying compliant,” said Douglas Wilber, CEO of Denim Social. “With increasing demand for our solution, FINTOP’s and JAM FINTOP’s partnership will help us grow to meet the needs of future clients.”
Accompanying the round, Jared Winegrad, managing director at FINTOP and a member of JAM FINTOP Banktech’s investment committee will join the Denim Social Board of Directors. “Denim Social has a compelling vision for a more connected digital future for financial institutions,” he said.
The Denim Social Solution
Denim Social research shows the majority of financial institutions have not yet adopted all of the four major social media platforms. While most modern marketers see the opportunity in social media, they lack the resources to create content or are unwilling to take on the compliance risk.
“Our bank was looking for a social media management solution that would allow us to scale our social media strategy at the brand, branch and employee levels,” said Kelly Wiese, chief marketing officer at First Bank and Denim Social customer. “Denim Social not only offers the features we need to be successful, it’s the only fully compliant platform on the market.”
Denim Social can help financial institutions successfully scale conversion optimized campaigns across all social media channels, all while staying in compliance.