Social media management platform Falcon.io just acquired competitor Komfo in an all-cash deal. Founder & CEO Ulrik Bo Larsen described the move as inline with the current trend in the social media software industry.
“The social media SaaS tool market is consolidating,” Larsen said.
“Companies expect to be able to manage all their social and other digital channels in one place. Right now the digital front office is simply broken.”
By acquiring Komfo, Larsen said Falcon.io would be augmenting its existing social media advertising and analytics functionalities. The acquisition came on the heels of a 40% organic revenue growth during 2017.
Falcon.io is a rare European-founded social media management vendor in an industry dominated by North American firms. It continues to punch above its weight with a series of industry firsts, including being the first to market with Instagram Stories publishing and advanced measurement in June last year.
Since being founded in Copenhagen in 2010, the company has opened offices in New York, Berlin, Budapest and Sofia.
Falcon.io has a 1,500-strong client portfolio that includes prominent UK brands Times Inc. UK and William Grant & Sons, alongside such names as Toyota, Panasonic, McDonald’s and Carlsberg.