Influitive has acquired fellow Toronto-based PostBeyond, a SaaS company focused on employee advocacy and social selling. The financial terms of this acquisition were not disclosed.
PostBeyond was founded in 2013 and has developed an employee advocacy and social selling platform that connects enterprises and their employees with relevant content to share on their social networks.
According to PostBeyond, its turnkey solution and analytics solves the challenge of getting an organization’s employee advocates active on social media. The company claims a customer base of over 100, which includes clients such as Scotiabank, Randstad, Gainsight, and Dynatrace.
As a result of the acquisition, PostBeyond will become a wholly-owned subsidiary of Influitive.
Over a decade old, Influitive is a cloud-based company that offers a product suite for customer advocacy. The startup’s platform includes tools, expert services, and training with intelligent automation, gamification, and personalization features to drive customer growth. Influitive’s customer base include companies such as Cisco, Adobe, ADP, and IBM.
With the addition of PostBeyond, Influitive intends to expand its offerings to engage both customers and employees through its platform. A spokesperson for Influitive said approximately 10 percent of PostBeyond customers are shared with Influitive.
Influitive has made several acquisitions in the past, having acquired mobile relationship management startup Triggerfox in 2016. In 2013, Influitive also bought Engagio, a company that offers a platform to search, discover, and follow online comments.
Prior to its most recent acquisition, Influitive was plagued by a series of layoffs since 2016. The company laid off 13 percent of its staff in August 2016, and elected to lay off nine employees, including its CFO and VP of marketing in February 2017.
In 2019, Influitive laid off 10 percent of its workforce in a shift to move its customer advocacy community platform upmarket. BetaKit reported that the layoff affected 12 employees in multiple departments, leaving the company with an employee base of 100. According to LinkedIn, Influitive’s employee base sits at around 120 employees currently.
The company has approximately $64.3 million in total funding to date. Influitive secured $10 million in equity and debt financing in 2019 from Georgian Partners, Comerica Bank, Relay Ventures and Export Development Canada. The company also previously raised $47 million CAD in a Series B funding round, and $7.3 million in a Series A in 2012.