NASHVILLE, TN and BOSTON, MA -- (Marketwire) -- 01/15/13 -- Moontoast, an innovative social rich media advertising platform, today announced that it has raised $5 million in Series B financing. The Martin Companies, LLC of Nashville led the round, with participation from other prior investors. The investment will be used to support the further development of Moontoast's innovative Social Activation Platform, the company's growing business development, sales and client services efforts, and the expansion of its marketing and product development teams.
Moontoast today also unveiled the latest version of its Social Activation Platform, the industry's leading social rich media advertising platform. The platform empowers brands and agencies to maximize their Social Advertising ROI by distributing interactive, transactional rich media ads that provide premium social experiences, and deliver actionable insights and measurable business results. The Moontoast platform is leveraged by today's top brands including Universal Music Group, Lexus, Nike, Hyundai, Lady Antebellum, Time Inc. and Simon & Schuster.
"Moontoast is a clear leader in the rapidly changing social advertising market, offering a scalable, comprehensive rich media platform that delivers demonstrable social ROI by creating deeper brand engagement within today's dynamic social landscape," said Martin Companies' Managing Director, Les Wilkinson. "The company's highly talented management team has proven that it can successfully innovate and execute to serve the social advertising needs of its high-profile clients."
"Moontoast's innovative approach addresses all facets of social advertising from discovery to engagement, with a keen understanding of today's social landscape and tomorrow's social shifts -- allowing brands to take their social activity and fan communities to the next level," said Stephen Collins, a Moontoast board member and the CEO of Bazaarvoice. "I'm incredibly impressed with the team's traction to date -- and look forward to what promises to be a successful 2013."
"The additional funding is a testament to Moontoast's superior ability to tap into the changing dynamics of social advertising. In Q4, our clients and agency partners launched more than 90 campaigns using our Social Activation Platform," said Moontoast co-founder and CTO Marcus Whitney. "Top brands and agencies launched a variety of marketing and advertising campaigns including video interaction, lead generation, brand awareness and commerce. These campaigns resulted in proven social ROI, including revenue increases of more than $100K, purchase conversion rates of more than 25% and lead generation conversion rates of more than 70%."
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