Spongecell Lands Series B Financing Round
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Feed Type
-
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=176ca503-fee1-4f5d-832d-415e0adc2bc5&Preview=1 -
Date
2/8/2012 -
Company Name
Spongecell -
Mailing Address
261 Madison Avenue 14th Floor New York, NY 10016 -
Company Description
Spongecell transforms standard banner ads into dynamic flash ads with rich media-like functionality. The multi-media ads engage audiences longer, use no more real estate than a standard banner ad, and keep users on the publisher’s page. -
Website
http://www.spongecell.com -
Transaction Type
Venture Equity -
Transaction Amount
Undisclosed -
Transaction Round
Series B -
Proceeds Purposes
Proceeds will be used to fund Spongecell’s continued expansion including product development, sales and marketing, executive and staff recruitment, and other working capital needs. -
M&A Terms
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Venture Investor
Safeguard Scientifics -
Venture Investor
Undisclosed
