Denim Social, a Midwest company whose software helps financial institutions manage their social media presence, has raised a $5 million Series B round of financing. The round was led by two banking-focused investment funds — FINTOP Capital and JAM FINTOP BankTech.
The funds will support product development and drive significant marketing and sales expansion for the company.
The Series B round comes one year after St. Louis-based Gremlin Social and Des Moines-based Denim merged to form a new company, now called Denim Social. The company also raised a $4 million Series A round last year, led by Hermann Companies.
Since then, the company has expanded its product offerings to include social media content curation and Instagram management.
“Denim Social has a compelling vision for a more connected digital future for financial institutions,” said Jared Winegrad, managing director at FINTOP Capital in a statement. “We’re proud to support their growth and expansion strategy.”
Along with the round, Winegrad will be joining Denim Social’s Board of Directors.
Denim Social is growing its team and hiring for a variety of sales, marketing and product development roles. The company currently has 10 jobs listed on its careers page.
Denim merges with St. Louis based company, raises $4 million -May 14, 2020
Denim launches Smart Campaigns -Oct. 13, 2018