HipLogiq raised USD7 million in a Series B financing round from Hadron Global Partners, according to a report published by The Wall Street Journal.
The new round of funding will give the marketing software firm more opportunities for market growth. It will also fund the promotion of Hiplogiq's two social marketing applications. One is SocialCompass, which was made for agencies and enterprises with a white label license. The other is SocialCentiv, for small to medium businesses (SMBs), said the report.
In addition, the company is also planning to increase its workforce from 20 to almost 40 employees. This would include a new sales vice president to focus on advertising and digital marketing in New York City, the report said.
Hiplogiq started as Social Compass in October 2012. This was an enterprise solution for social media marketing. Now, the company has a white label solution for firms aiming to brand the tool. Hiplogiq's patented technology helps companies interact with their clients over social media using a results-driven method, The Wall Street Journal reported.
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