SAN DIEGO--(BUSINESS WIRE)--Chalk Digital, provider of the first instant mobile ad platform for local businesses, today announced it has successfully closed its seed financing from angel groups, strategic partners and industry veterans to accelerate commercialization of the company’s instant mobile ad platform that advances self-serve geo-targeted mobile advertising to local business owners and independent service professionals.
Investors in Chalk's first round of financing include Composite Capital Partners (Washington, D.C.), Kernal Capital Inc. (San Francisco, CA), KLab Ventures (Tokyo, Japan), Tallwave Capital (Phoenix, AZ) as well as numerous accomplished industry veterans and prominent angels, including Peter L. Corsell, founder and Chairman of Gridpoint; Ron Garret, co-founder and CEO of Spark Innovations; and Dale Okuno, co-founder and former CEO of EZ Data.
Regarding the use of funds, Craig Hagopian, CEO and Founder of Chalk, stated, "The financing, and the industry expertise of our investors, not only supports Chalk's core platform development but also accelerates our market traction through commercial partnerships. The ChalkBoard™ self-serve ad builder is 100% automated which enables local advertisers to easily launch their own location targeted mobile campaign in minutes for less than $7 per day. Each ChalkAd™ is served as a display ad within thousands of popular smartphone applications based on location, time and audience."
Mr. Hagopian continued, "According to recent reports our $28B a year advertising industry does not need another mobile ad network but rather its first personal ad solution. Chalk will significantly advance the practice of self advertising with a suite of implementations that addresses the needs of vertical segments and individual markets through deep data integration and scalability. Chalk's family of ChalkBoard ad builder solutions are available today as customized DIY portals, downloadable applications and through live call-in agent support. More than 65% of our ChalkAds were launched by individuals or firms that had never used mobile advertising to promote their business before Chalk. It’s our mission to democratize advertising for business owners, local franchisors, neighborhood professionals and individuals."
About Chalk Digital, Inc.
Chalk Digital is the provider of the industry’s first instant mobile ad platform for local businesses. Headquartered in San Diego, the company was founded by a scrappy team of experienced entrepreneurs and industry veterans from the mobile advertising, wireless products and small business solutions world that enjoy building successful companies around underserved market demand. Chalk Digital’s creativity comes from the company’s diversity with offices in San Diego, CA, Redwood City, CA, Delhi, India and Tokyo, Japan. For more information, please visit www.chalk.ad.