Soci Raises $80M to Revolutionize Localized Marketing

Soci, a company specializing in what they term “hyperlocal marketing,” has announced the completion of an $80 million Series D funding round.

Large organizations with numerous locations, including Ace Hardware, Anytime Fitness, The Hertz Corporation and Nekter Juice Bar, utilize Soci (pronounced soh-shee) to oversee and synchronize marketing efforts at the individual store level across search engines, social media, online review sites, and advertising initiatives. Soci reports that in 2020, they added over 100 new clients, representing close to 30,000 additional locations.

According to co-founder and Chief Executive Officer Afif Khoury, the recent pandemic proved to be a pivotal period for the platform, as many businesses were “urgently seeking a practical solution to engage with their local customer base.”

A significant benefit of Soci’s methodology, Khoury explained, is its ability to enable national marketing teams to distribute content and resources, ensuring each location maintains consistency with the overall “brand identity,” while simultaneously empowering each location to cultivate a distinct “local presence.” Throughout the pandemic, businesses were able to readily share essential updates regarding “operational status” and also “connect with customers on a personal level, adding a human touch often absent in national marketing campaigns.”

“Consequently, when businesses that had temporarily closed were able to reopen, customers were eager to offer their support,” he stated. “This fostered a connection that we hope will endure.”

Khoury further highlighted that Soci has developed a complete platform for managing all aspects of localized marketing, as “businesses prefer a single access point rather than managing multiple logins for various systems, particularly at the local store level.”

He indicated that this new investment will facilitate further expansion of the platform’s capabilities through both strategic acquisitions and integrations: “Our goal is to integrate with CRM systems, point-of-sale platforms, and loyalty programs, combining that data with our search, social media, and review data to create detailed customer profiles.”

To date, Soci has secured a total of $110 million in funding. This Series D round was spearheaded by JMI Equity, with contributions from Ankona Capital, Doug Winter, CEO of Seismic, and Khoury himself.

“Current indicators suggest continued challenges for restaurants and other community-based businesses in the coming months,” noted Suken Vakil of JMI Equity in a released statement. “This underscores the ongoing need for localized marketing strategies that align with national brand guidelines while also catering to specific community needs. Soci’s capabilities for managing multiple locations establish it as a leading provider and the essential platform for franchise and brand organizations with numerous locations.”