EDBI, Temasek invest in social media start-up Sprinklr

EDBI, the corporate investment arm of the Singapore Economic Development Board, and Singapore investment company Temasek have participated in marketing software start-up Sprinklr's latest financing round, which has raised US$105 million (S$142 million).

New York-headquartered Sprinklr is a social media management software developer. It sells more than two dozen applications for scheduling social media campaigns, placing digital advertisements and managing online commentary, among other functions.

The company, founded in 2009, works with more than 1,000 brands, including Intel, Microsoft and P&G. It has about 1,200 employees globally in over 150 countries.

Sprinklr intends to expand into Singapore on the back of this fundraising round.

The presence of consumer-centric businesses here and the region makes Singapore a natural base for Sprinklr to support its growing Asian business, said an EDBI spokesman. This will help Singapore "strengthen digital innovation capabilities", the spokesman added.

Mr Ragy Thomas, chief executive and founder of Sprinklr, said: "Modern businesses are expected to have millions of conversations, simultaneously and at the speed of social, as they flow across dozens of different channels and in and out of traditionally disconnected departments."

This complex new reality requires a new class of enterprise software, he said.

Sprinklr has raised total funding of US$239 million to date.

Chia Yan Min

A version of this article appeared in the print edition of The Straits Times on July 22, 2016, with the headline 'EDBI, Temasek invest in social media start-up Sprinklr'. Print Edition | Subscribe