SOCi Achieves Centaur Status, Joins Exclusive Group of Global SaaS Companies In Surpassing $100 Million in ARR

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Aug 01, 2024, 09:45 ET

With nearly 1,000 brand customers managing more than three million locations through its platform, SOCi solidifies its leadership in the CoMarketing Cloud category

SAN DIEGO, Aug. 1, 2024 /PRNewswire/ -- SOCi, Inc ., the CoMarketing Cloud for multi-location enterprises, today proudly announced it has reached a significant milestone: achieving $100M in annual recurring revenue (ARR) and joining the elite ranks of global centaur companies. This achievement, seven times rarer than unicorns, is a powerful testament to SOCi's relentless commitment to innovation and its significant impact on digital marketing.

"Reaching this milestone is a testament to our relentless drive to innovate and solve complex problems, delivering exceptional value to our customers," said Afif Khoury, Founder and CEO of SOCi. "As SOCi marches ahead, we are driven by a higher calling—to evolve software from tools we use, into platforms that can be trained to work for us. This achievement marks just the beginning of our continued pursuit of excellence and category-leading solutions for this ever-evolving marketing landscape."

Impressive Growth and Expansion
Since its market debut in 2014, SOCi's journey to centaur status has been marked by consistent, impressive growth. Recognized as one of America's fastest-growing privately held companies by Inc. 5000 for the past six consecutive years and featured in the Deloitte Technology Fast 500™ for the past two years, SOCi has demonstrated resilience through economic challenges, including the COVID-19 pandemic. From 2020 to 2023, SOCi achieved a remarkable 334% revenue growth and expanded its workforce by 277%, enhancing its leadership team with industry veterans from Salesforce, Oracle, Blackbaud, Gong, Seismic, and more. Serving nearly 1,000 customers—including Ace Hardware, Self Esteem Brands, Liberty Tax, Mutual of Omaha Mortgage, and Sport Clips—and managing over three million locations globally, SOCi has cemented its position as a leading enterprise technology partner.

Category Leadership and Accolades
SOCi has been named a top 5 Best Marketing and Digital Advertising Product and top 50 Best Software Products in G2's 2024 Best Software Awards, and continued to maintain G2 Leader status in 12 additional key digital marketing categories. Additionally, the company has received continuous recognition for its service model, being named Best Marketing Supplier in Entrepreneur's Top Franchise Suppliers list five times running, and for its innovation, recently being named one of Fast Company's World's Most Innovative Companies.

Product Innovation, Artificial Intelligence and Strategic Partnerships
Over the last two years, SOCi has been at the forefront of adopting AI and developing autonomous workflows into its marketing platform, building the first-of-its-kind CoMarketing Cloud powered by SOCi's groundbreaking Genius AI technology. Recently SOCi released the first three next-generation autonomous marketing applications on the CoMarketing Cloud: Genius Reviews, Genius Social, and Genius Search. These AI-driven solutions enable customers to automate time-intensive tasks, extract actionable insights from comprehensive analytics, and execute highly effective marketing strategies with ease.

According to Alo Sarv, SOCi's Co-Founder and CTO: "Our Genius AI solutions are engineered to do the work of 1,000 marketers, taking the heavy lifting out of digital marketing and empowering our customers to achieve more with less effort and drive real, tangible results."

SOCi's relentless focus on innovation has also been bolstered by strategic partnerships that demonstrate its commitment to delivering comprehensive, all-encompassing solutions that meet the evolving needs of multi-location enterprises. In the last year alone, SOCi has forged integrations and strategic partnerships with AWS, Microsoft, Google, Punchh, Olo, Smarsh, IBM, Salesforce and many more.

New Growth Vectors
As the platform of record for hundreds of brands, SOCi will continue to develop new products with proven demand from its customers, while also seeking to find new integrations, partnerships and acquisitions that make sense to drive value for its customers. The company is expanding into high-growth verticals such as financial services, insurance, and healthcare, driven by demand for tailored marketing solutions. Additionally, SOCi is exploring new geographies, including Europe and APAC.

"While SOCi has already posted impressive growth metrics, it's even more remarkable when you factor in the numerous growth vectors still available to us—expanding into new verticals, exploring new geographies, developing innovative products, upselling AI-driven workflows, and strategically executing acquisitions," Khoury said. "Each of these avenues offers substantial opportunities to further accelerate our growth and solidify SOCi's market leadership."

To learn more about SOCi's groundbreaking journey and how its cutting-edge solutions can transform your own localized marketing efforts, visit www.soci.ai.

About SOCi
SOCi is the leading CoMarketing Cloud for multi-location enterprises. We empower nearly 1,000 brands like Ford, Ace Hardware, Jersey Mike's, Kumon, and more to automate and scale their marketing efforts across all locations and digital channels. Through the use of best-in-class generative AI and machine learning, the SOCi Genius platform provides multi-location enterprises with actionable insights and recommendations while automating their most important workflows at scale. With SOCi, businesses can strengthen their digital presence across local search and social pages while protecting their online reputation, driving improved customer engagement and market leading results. To learn more about how SOCi can help fuel your localized marketing success, please visit us at www.soci.ai or message us at [email protected].

SOURCE SOCi