Today we announced $47 million in new funding from Adobe and Salesforce Ventures, along with our existing investors Cue Ball, Greycroft Partners, Hillsven Capital and U.S. Venture Partners.
For Livefyre, the implications are pretty obvious. We’ll use the money to continue pushing the boundaries of our technology and build stronger, simpler tools to help our customers engage and grow their audiences. But what excites me the most about this round is what it says about the Marketing Cloud space in general.
Adobe and Salesforce joining this financing signifies a very real and sudden shift in the priorities of marketers and publishers away from just posting content into social channels, and toward engaging audiences around their own content. It also marks the first time that the two companies have invested together, and being uniquely aligned with both of these amazing companies will present unique opportunities for us as we grow.
So what makes the opportunity so special? In short, Livefyre fills a vital emerging gap in the Marketing Cloud. We’re the only content marketing platform built for user-generated content. No other platform enables marketers to easily discover, manage and publish the large amounts of user-generated content created about their brand to their own properties through a single platform, whether that content is generated on their website, mobile apps or on social networks.
As social networks evolve from free community platforms into paid media channels, brands are turning their own properties into the social home base for their audiences. Unlike on social networks, brands can use their own sites to centralize all of the content and conversations around their brands and build their own custom experiences designed to drive specific behaviors. It’s a huge opportunity for marketers and publishers that they’re just now beginning to realize.
Livefyre is the only platform on the market today that enables marketers to not only engage but grow their audiences through the management, discovery and amplification of user generated content. Consumers create billions of pieces of content every day, from Tweets and Instagram pics to product reviews and video uploads. I believe UGC is the most undervalued asset in the marketing mix, but if today’s news signifies one thing, it’s that it won’t be undervalued for long.