L.A. based start-up MomentFeed, has attracted many big brands with it’s solutions for mobile and social marketing for multi-location brands. The startup which came out of stealth in Jan 2012, has closed another $16.3 million round of funding, led by Level Equity with participation from existing investors — Signia Venture Partners, Draper Nexus and DFJ Frontier.
MomentFeed have met with success by solving real problems for brands to handle mobile and social engagement at the local level. Given the size of that problem, the funding round comes at a time when the startup is ripe to enter a rapidly growing space.
This new round of funding will support team expansion of software engineering teams, and enable the company to add new products and features requested by the company’s enterprise clients. MomentFeed said they will also use the funding to bolster sales and operations teams, with a focus on growing new clients and agency partners.
“MomentFeed has always been driven by the direct success of our clients and the value of our network and agency partnerships,” said MomentFeed CEO Robert Blatt.
“This funding is an affirmation of our business strategy and allows us to continue on the path of powering our clients’ success. With 80% of mobile consumer interaction with multi-location businesses now happening through the digital representations of their stores, there are many more powerful capabilities that we can now add to our platform to help our clients succeed.”
“Solving the unique mobile customer engagement challenges faced by multi-location brands is a tremendous market opportunity and MomentFeed’s capabilities, culture and business strategy have driven immense growth and very strong customer retention,” said Sarah Sommer of Level Equity. “We’re excited to be part of building this great company.”
Kristen Pechacek from client Self Esteem Brands, said that “the relationship we have with MomentFeed has been a powerful partnership in multiple ways. They’ve helped us plan and put together smarter, more effective customer engagement programs. More importantly, this ongoing partnership is based entirely on our company’s success in adopting new ways to reach our customers.”