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Mobile Commerce Platform Branding Brand Raises $9.5M Series B
Sep 19, 2013 (01:09 PM EDT)
PITTSBURGH, Sept. 19, 2013 /PRNewswire/ -- Branding Brand, the largest mobile commerce platform to major retailers, today announced that it has secured $9.5 million in Series B funding led by existing investor Insight Venture Partners. The round also includes repeat investment from CrunchFund and Lead Edge Capital, along with new participation from eBay Enterprise. This brings the company's total funding up to $17 million.
Branding Brand will use the investment to scale sales, marketing, and operations. Since its Series A investment last year, the company experienced 100 percent year-over-year growth--something it has achieved since inception--and was recently named to Inc. magazine's Inc. 500 list. It also made numerous key hires, including Jeffrey R. Hennion, former Executive Vice President, Chief Marketing Officer, at GNC and Dick's Sporting Goods, as President; Bibhash Das, former Senior Director, Account Management, Americas, at Adobe, as Vice President, Client Services; and John Disarlo, former Senior National Sales Leader at V.me by Visa, as Vice President, Business Development.
"We are growing our team, as well as our reach," said Chris Mason, Branding Brand co-founder and CEO. "With nearly $1 billion in transactions running through our platform, and our recent expansion into hospitality and transportation, it is a very exciting time."
"We recognized the opportunity and vision for Branding Brand earlier in the company's evolution, and given their strong momentum, we are delighted to lead this new financing," said Ryan Hinkle, Managing Director at Insight Venture Partners. "The Branding Brand team has shown tremendous innovation and thought leadership in the rapidly-evolving world of mobile enablement."
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