Conversocial set for growth

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UK technology start up Conversocial, which helps companies manage their operations on Facebook and Twitter, is set for rapid growth this year after securing venture capital backing.

The group, which only launched in July last year, has already signed up customers including ITV and discounting site Groupon. Its software allows a company to manage its interaction with customers on social networking sites as well as marketing. Conversocial has received £1.5m in Series A funding from European venture capital firm DFJ Esprit. The chief executive, Joshua March, said companies were increasingly investing in social media engagement and the investment "allows us to capitalise on this". It hopes to increase headcount from 10 to 25 in 2011.