Socialware to receive additional funding from CrunchFund, other investors

Congrats to Socialware Inc., they announced $7 million in new funding today. CrunchFund will join “other investors” in providing the round of series C funding to the firm, which supplies several broker-dealers and insurance companies (among other types of businesses) with both social media compliance and “engagement” technology. For those that do not recall CrunchFund was founded by various tech industry — let us just say various successful tech industry big shots including Michael Arrington (of TechCrunch fame who recently departed acquirer AOL in a Huff). “Many companies miss the mark by only leveraging social media to elevate the company brand, but personal relationships are at the core of social networks. People have relationships with people, not brands,” said Patrick Gallagher in today’s prepared statement. He is general partner at CrunchFund and former principal with VantagePoint Venture Partners. Yeppers Patrick and that is indeed why most advisers make use of it. Also in the prepared statement Socialware touted “triple digit customer, revenue, and employee growth in 2011.” It also pointed out that current Socialware investors also include Floodgate, G-51 Capital, Morgan Stanley Expansion Capital and Silverton Partners. You can, of course, visit Socialware online for more information. While there I noticed that there are quite a few interesting industry folks contributing to Chad’s (Bockius) SocialTurns social media site. Related stories: Social media compliance, a small but growing sector in the advisory economy Raymond James makes its social-media move Erado lands another big independent broker-dealer; Control of Google+ still a big question mark; Advisor Group went a different route Finra unveils additional guidelines for social media The pluses and minuses of Google+ LPL latest to deploy social-media archiving system; Independent broker-dealer selects Erado's API-based archiving, tracking and post-review tool Actiance to launch Socialite Engage; A measuring stick for social media efforts in addition to pre-approval, tracking and archiving