Sprinklr acquires the Dachis Group to build out its social management platform
With so many social media management platforms it's difficult to keep track. There's Hootsuite, Sprout Social, Radian6, to name a few. In general they offer the same core product -- an easy way to channel, filter, and diffuse social content for brands. But, of course, the war rages on about which is best.
Today, New York-based Sprinklr announced that it has acquired social and brand analytics company Dachis Group, a move it claims will give it a leg up from the competition. Precise terms of the deal were not disclosed.
This acquisition allows Sprinklr users to control about a dozen social platforms -- Facebook, Twitter, YouTube, Tumblr, and various message boards and forums. According to Sprinklr's CEO Ragy Thomas, "This was something our clients were seeking externally. We did not provide an outside-in brand analytics view."
And that, according to Thomas, is what Dachis Group brings to the table. Dachis uses social networks to track social engagement of brands, which is similar but not identical to Sprinklr's function. While Sprinklr provides a platform by which a brand can execute a social media strategy, its focus is on centralization and siloing the many social platforms out there. Dachis, instead, tracks outward trends that can then be used by brands to create more targeted social campaigns.
With the acquisition, Thomas says his vision for Sprinklr is to become "the first screen for social." He sees his company becoming the means through which brands create and execute social campaigns. Better understanding brand analytics is the first step. So for the next three months Sprinklr will begin integrating Dachis's big-data driven into its own platform. All of this will go toward this year's goal for Sprinklr: "To build out a brand analytics infrastructure."
From here Thomas sees the company's goal to be growth. Currently the company is seeing 300 percent growth year over year, and according to him this acquisition will only boost that. Together, the companies now represent over 400 brands.
The last time I checked in with Sprinklr, one of its competitors, HootSuite, had sent Thomas a recruitment message by mistake via LinkedIn. Thomas saw this as a chance to reflect on the power and problems intrinsic with social. This acquisition gives Sprinklr more of that power, and also shows that it's trying to rise to the top of the social management platform chain.
This acquisition seems logical but the real proof will be in the company's brand adoption over the next year or so. It's a crowded market and success is by no means assured.