MomentFeed Secures $1.2M Seed Funding
DFJ Frontier and DFJ JAIC Lead With Notable Angels
SANTA MONICA, Calif., July 12, 2011 - MomentFeed, Inc., a location-based marketing software and services provider, today announced that it has secured $1.2 million in Series AA financing. The round was led by DFJ Frontier of Los Angeles, Calif. and DFJ JAIC of Menlo Park, Calif. and Tokyo. Both firms are part of the DFJ Network. Also participating in the round were Gold Hill Capital of San Jose, Calif. and angel investors Gil Elbaz (Founder/CEO, Factual), Auren Hoffman (Founder/CEO, Rapleaf), and Walter Kortschak (Former Managing Partner, Summit Partners).
MomentFeed offers a first-of-its-kind location-based marketing platform that includes both analytics and campaign management. The solution is designed for enterprise marketers that manage tens, hundreds, or thousands of locations across the U.S. or around the world. The MomentFeed beta, which launched earlier this year, integrates Gowalla, Facebook Places, Foursquare, and Twitter as a unified dashboard.
"We're excited and humbled by the caliber of investors the company was able to attract," said Rob Reed, founder and chief executive officer, MomentFeed. "We are represented in Los Angeles, San Francisco, Silicon Valley, New York City, Boston, Denver, Toronto, and Tokyo. It's a fantastic group that contributes value to all aspects of the business."
Additional investors include Ken Bane, Ty Danco, Peter Delgrosso, Sanford Ewing (Peninsula Investors), Alex Kazerani, Clark Landry, Jennifer Lefcourt, Location3 Media, Jennifer Lum (Apricot Capital), MI Ventures, and Mark Mullen (Mull Capital). The company secured a large part of its round, directly or indirectly, through the AngelList service.
"We're proud to back Rob in this exciting venture," said Salil Pradhan, venture partner, DFJ JAIC. "His vision for how the location-based marketing space will evolve and the platform he's developing in response to that is quite compelling. Rob has assembled a superb team and a phenomenal group of strategic partners, advisors, and investors to help fulfill that vision."
Mr. Pradhan joins Messrs. Mullen and Reed on the company's board of directors. Mark Mullen was previously Managing Director of Investment Banking for RBC Daniels in Los Angeles. Most recently, he served as Senior Advisor to Los Angeles Mayor Antonio Villaraigosa and COO for the city's Office of Economic and Business Policy. Mark is currently Managing Partner of Mull Capital.
The MomentFeed team consists of an experienced group of marketing and technology executives who believe the nexus of social, local, and mobile (SoLoMo) amounts to the Holy Grail of marketing.
MomentFeed is a location-based analytics and campaign management service (SaaS) for companies with 20+ locations to manage. The MomentFeed platform enables companies to monitor consumer engagement activity; launch, measure, and optimize campaigns; and maintain customer relationships via Foursquare, Facebook Places, Gowalla, and Twitter Places across hundreds or thousands of locations through an integrated, Web-based solution. MomentFeed is available globally. The company is based in Santa Monica, Calif.
About DFJ Frontier
Headquartered in Los Angeles, DFJ Frontier is a venture capital firm that invests in seed and early stage companies on the west coast. DFJ Frontier backs passionate entrepreneurs in a broad array of industries, including information technology, media, life sciences, clean technology, and other emerging businesses. The firm typically leads the first round of investment, taking an active role to help entrepreneurs build extraordinary businesses. DFJ Frontier is a Partner Fund of Draper Fisher Jurvetson and has offices in Los Angeles, Portland, Sacramento and Santa Barbara. For more information, please visit: www.dfjfrontier.com.
About DFJ JAIC
DFJ JAIC, a part of the DFJ Network, is a US-Japan cross border venture capital firm with presence in both Tokyo and Silicon Valley, primarily investing in seed and early stage consumer and enterprise Internet services and in Cleantech-Advanced Materials. Through its prior funds, the DFJ JAIC GP team has invested in more than 100 companies over the last decade, resulting in 20 IPOs and 10 M&A exits in Japan and US. To learn more, visit www.dfjjaic.com