Hearsay Social has raised $30 million to expand its offerings aimed at helping financial and insurance companies use social media to improve their services and boost sales. Going social can be tough for players in highly regulated industries, which is where Hearsay's expertise and tools such as libraries of pre-approved social content come in. "The CEOs who are getting involved are saying it's no longer enough to dabble in social media as a side project," says Hearsay chief Clara Shih. "They're taking social sales from optional to recommended to, in some cases, mandatory."

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