The company that provides social media advertising, Kinetic Social, announced that it was able to raise US$8 million at the first closure of its Series A financing round. The agreement was prearranged with a companion loan agreement. Cincinnati-based Blue Chip Venture Company granted the capital investment while Chicago-based Gibraltar Business Capital contracted the companion loan agreement.
Recent capital infusions of the company will further stimulate the thrust and expansion in Kinetic plus it will improve its position in the market. Kinetic is still keenly studying other offers to increase its dealing in Series A with other capital investments.
Blue Chip Managing Director, Mark Wright, said, "Blue Chip has been watching this market for over two years now, waiting for the leader to emerge, and we feel Kinetic Social is that leader."
He added, "Kinetic is unique in a number of ways: it is only one of several companies that can optimize social advertising campaigns across all the major social networks, and it has a distinct capability to marry that advertising with display and mobile campaigns; its proprietary data-based technique for enhancing its target marketing capabilities is entirely unique and is widely regarded as the most advanced in the market."
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