MomentFeed Closes $16.3M in Funding Round Led by Level Equity
Funding Enables Company to Fulfill Customer and Partner Desire for Expanded Capabilities and Meet Strong Market Demand for MomentFeed's Software & Solutions
SANTA MONICA, CA – (Marketwired - Feb 23, 2017) - MomentFeed, the leader in mobile customer experience management for multi-location brands, today announced it has closed $16.3 million in another round of funding, led by Level Equity with participation from existing investors -- Signia Venture Partners, Draper Nexus and DFJ Frontier.
This new round of funding will support the expansion of MomentFeed's talented team of software engineers and enable the company to add new products, features and services requested by the company's enterprise clients. It will also be used to bolster operations and add additional sales executives to focus on new clients and grow the company's network of advertising, marketing, SEO and social media 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."
"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," said Kristen Pechacek from Self Esteem Brands. "While MomentFeed has gone above and beyond to educate us and ensure that we're utilizing their platform to its full potential, they also understand how important the human and behavioral component is in getting our more than 2,500 Anytime Fitness club owners to be successful."
MomentFeed's mobile customer experience management software enables multi-location brands to make their nearest location the best choice for every mobile customer. The modular platform helps organizations distribute consumer engagement to the store or neighborhood level, creating a mobile customer experience that is more authentic, relevant and engaging for local consumers.
With a consistent customer experience across mobile search, social media, mobile advertising and customer care, the platform helps continuously and predictably capture more sales for retailers, restaurant chains, banks, auto dealers, insurance companies and other franchised and corporate-owned multi-location businesses. MomentFeed was founded in 2010 and is headquartered in Santa Monica, California. For more information visit www.momentfeed.com, follow us on Facebook, and also on Twitter (@MomentFeed).