CoupSmart Receives $1M Series A Funding, Expands Hiring
CoupSmart, a social marketing system focusing on social monetization, announced it has closed its Series A funding round at $1 million. CEO Blake Shipley says he has plans for growth.
- Cincinnati, OH-KY-IN (1888PressRelease) September 03, 2012 - After acquiring seed investment in 2009 to lay the foundation for CoupSmart, the startup has continually met several growth milestones, and exceeded revenue expectations. These successes have led to a profitable business model, additional employees, and now more investment with which to expand. Continued expansion is the main goal with this investment round, both in software development capacity and workforce additions.
CoupSmart has quickly made an impact in bringing social media for businesses beyond engagement to focus on ways of actually driving revenue through social interaction, and plans to build on that success.
Included in this round of funding are several private investors, as well as Queen City Angels, the investment group which gave CoupSmart its initial shot.
"Securing this round of investment has me energized", says Shipley. "We're already launching into our next stage of growth, which includes hiring additional sales staff and expanding our development capabilities. This funding is what will allow us to continue providing the best social marketing tools to our clients and grow in value."
CoupSmart's offerings focus on unique social apps that provide the much sought after ROI from social media. By upgrading the functionality of the coupon to match the technology used to deliver it, the company uses them to drive repeat purchases while measuring and responding to results in real-time. This social technology not only provides the platform for brands to activate their online marketing efforts, it delivers user data and social patterns at the individual level, allowing for targeted remarketing campaigns that encourage advocacy.
"Our goal is to keep growing jobs in the Cincinnati area while building a company with global appeal," says Shipley. "The region's past and current successes, along with its growing talent pool and budding interest in entrepreneurship make this a possibility, and something we want to strive for."
CoupSmart's growth plans for the rest of 2012 and beyond will provide the supply needed for the increase in demand for the startup's services, as each successful project builds on the one previous, and lasting value is demonstrated. As the team continues its efforts to bring more retail and CPG companies into the age of social coupons, they also devote as many hours as possible to refining the system, and implementing valuable features involving analytics and fraud protection. Answering these concerns of the big brands will speak highly of CoupSmart's abilities.
For additional information on the news that is the subject of this release, or to request a demonstration of CoupSmart's technology, contact Sean Grace or visit http://www.coupsmart.com
About CoupSmart
CoupSmart is a social marketing system that allows businesses to bridge the gap between offline and online customers and create a measurable, recurring revenue stream from their social media efforts. CoupSmart was started to bring about the vision of making coupons that continue to work for businesses after distribution. The system focuses on collecting the right data from fans and then automating the remarketing process to deliver the right offer at the right time.
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