Gremln, the company dedicated to making it easier for banks and other financial institutions to benefit from social media, has secured a new investment of half a million dollars from Cultivation Capital.
The new funding takes Gremln’s total capital to nearly $2 million.
Tim Stern, General Partner at Cultivation Capital, emphasized the “safety first” aspect of Gremln’s technology, saying there is a “large need” for software that will help industries control what is shared via social media. Stern will be joining Gremln’s board of directors as part of the investment.
Gremln specializes in social media management software that helps institutions use platforms like Facebook, Twitter, and LinkedIn without having to worry about regulatory and compliance issues. The technology includes compliance and organizational tools, analytics, features like bulk post upload, scheduling, and message assigning, and is available as a white label solution. Gremln has won awards and recognition from PC World, CIO Magazine, and the Innovators Cup. This summer, Gremln raised $100,000 as a participant in the SixThirty Accelerator program.
Among the interesting notes in the coverage of the investment was the suggestion from Gremln CEO Ryan Bell that the company looking into other potential revenue sources, such as working with financial broker dealers. Bizjournals also reports that Gremln has grown approximately 500% since early 2013.
Gremln last demoed on the Finovate stage in September as part of FinovateFall 2014. See the company present its new mobile platform here.