San Francisco — Hearsay Social, a San Francisco-based developer of web-based social media tools for brands with local branches and representatives, said on Thursday it has raised $18 million in its second round of funding, led by New Enterprise Associates (NEA).
Previous investor Sequoia Capital also participated in the round, which the company said will fuel growth to accommodate increased market demand.
Hearsay’s tools are designed to let large companies use Facebook, Twitter and LinkedIn to increase their sales and deepen customer relationships, while also mitigating regulatory risk and protecting their brand. The company was co-founded by former Microsoft executive Steve Garrity and former Google and Salesforce.com executive Clara Shih.
This article was also published in Bay Area Tech Wire.