BOSTON & NASHVILLE, Tenn.--(BUSINESS WIRE)--Boston and Nashville-based technology company, Moontoast, creator of social commerce software, has recently secured $6,000,000 in new funding. The round was led by Nashville, TN based venture capital firm, The Martin Companies. Other current investors are also participating in the round.
The Moontoast Platform is a Social Activation Engine for brands to grow and build stronger relationships with their fans and customers. By distributing social campaign modules for promotions, events, downloads and commerce wherever fans spend their time, Moontoast is able to provide high quality social analytics insights to drive more relevant interactions, thereby activating fans to advocate for and to transact directly at the point of impression with brands to drive meaningful business results. Moontoast’s Platform includes Distributed Social Commerce Stores, Patent-Pending Social Analytics to give brand’s social insights and Patent-Pending Game Commerce to easily incorporate gamification elements that target different behavior-type consumers.
"Moontoast has received a high level of interest from other venture firms in response to our success in delivering unprecedented results for our customers and partners through distributed social commerce,” Blair Heavey, CEO and member of Moontoast’s Board of Directors said. “The Martin Companies has been an active partner with us in this success. We felt their continued involvement and guidance would be the best path for our growth and success and we are excited about our further collaboration with them as Moontoast continues to write the rules for success in the social commerce market."
Moontoast launched their social commerce platform in 2010 with statistics proving their model even in the earliest social campaigns where they processed $10,000 in just one hour from one Facebook post and saw conversion-from-impression rates of over 18% from another.
"We believe there is a fundamental shift occurring in digital commerce,” said Les Wilkinson, Managing Director of The Martin Companies and a member of Moontoast’s Board of Directors. “Consumers expect opportunities for engagement and commerce to be delivered to them and brands are struggling to determine how best to respond. We continue to be impressed with Moontoast’s approach to this shift. Moontoast’s management team has emerged as the thought leaders in the social commerce space. Their distributed commerce, social analytics and game commerce products embody innovative and elegant solutions that drive unprecedented engagement for their customers and partners. We are pleased with their achievements thus far and, with this financing, we believe that Moontoast is poised to capitalize on that success with the team's vision, partners and unprecedented campaign results.”
Moontoast is the leading social commerce platform for affinity brand retailers, musicians, athlete/celebrities, & authors. Moontoast provides the first social activation engine which helps retailers and brands better acquire, engage, convert and deliver relationships, relevancy and results within the Social Web including Facebook and Twitter, affiliate sites, and ad networks. For more information, visit www.moontoast.com.
ABOUT THE MARTIN COMPANIES
Founded in 2009 by Charles N. Martin, Jr., The Martin Companies is a Nashville, TN based investment company that provides capital, operational support and mentoring to early-stage companies across the United States. The Martin Companies brings an effective new approach combined with market experience, scalable best-practice corporate office functions, and operational and financial support, thereby creating an environment that allows entrepreneurs to intently focus on building their business. The Martin Companies is primarily focused on technology and healthcare, but their portfolio companies span a variety of industries.