Sprout Social, which provides social media management software, has acquired influencer marketing and social intelligence platform, Tagger Media, for $140m ($110m) in cash.

Tagger Media was founded in 2015 to make influencer marketing more effective and accessible for all brands. Today, Tagger’s unified SaaS solution enables brands and agencies to discover influencers, plan and manage campaigns, analyze competitor strategies, report on trends and measure ROI. Tagger was recently recognized by G2 as the Summer 2023 Leader, Summer 2023 Momentum Leader and Summer 2023 High Performer in the Enterprise.

“We started Tagger because we saw extraordinary potential in the creator economy and knew there was an opportunity to build disruptive and innovative software for brands,” said Pete Kennedy, Tagger’s Founder and President. “We’re delighted to execute together on a shared vision to define this rapidly-emerging market.”

Justyn Howard, Sprout Social’s CEO and Co-founder, said that as influencer marketing has changed the way brands build awareness and connection, its customers are increasingly demanding to break the workflow silos between core social media strategies.

“By bringing Tagger’s influencer marketing software into Sprout’s suite of solutions, we have the opportunity to deliver the next generation of social insights to our customers to fuel business strategy and measure the full ROI of holistic social investments,” said Howard. “Tagger and Sprout have a shared mission for building powerful and intuitive software and we’re excited to bring our industry-leading products and teams together.”