Mangrove and LocalGlobe in $3.4m round for Echobox
Mangrove Capital Partners and LocalGlobe have invested $3.4m in Echobox, a British software-as-a-service (SaaS) company enabling media outlets to automatically schedule social media posts.
The fresh capital will enable the business to invest in marketing activity.
The transaction marks the second deal in quick succession by LocalGlobe, the London-based VC founded by former Index Ventures general partner Saul Klein. In June, the firm joined Bessemer Venture Partners in a $7.5m round for Hibob, a British developer of cloud-based HR software.
Company
Founded in 2013, London-headquartered Echobox allows media companies to automatically schedule posts on social media, using algorithms to determine when certain content will receive the greatest traction. Its customers include Le Monde, Le Figaro, Axel Springer and San Jose Mercury News.
People
Mangrove Capital Partners – Michael Jackson (partner).
LocalGlobe – Saul Klein (founding partner).
Echobox – Antoine Amann (founder, CEO).
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