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ViralGains Raises $2.8 million of $3.3 million Round of Funding
BOSTON, July 31, 2014 /PRNewswire/ -- ViralGains, a company with a mission to create authentic relationships between consumers and advertisers through online video, today announced that the company has raised $2.8 million of a $3.3 million round of funding. The company is using the funds to move into new markets, including Southern California, New York City and Chicago, and to grow the demand and supply sides of its business.
The round was led by Hub Angels, with participation from 45 investors, including 500 Startups' Dave McClure, Chicago-based Pallasite Ventures, Boston's Launch Capital and local Boston-based angels Ty Danco, Joe Caruso, Jay Batson and Semyon Dukach. In addition, rapper Nasir "Nas" Jones is part of the investment group.
ViralGains offers a video ad platform, named Praxis, that helps advertisers find targeted audiences for YouTube video content. High profile clients of ViralGains include Exxon, Nestle, Showtime, Lexus, and State Farm.
ViralGains has worked with 15 Fortune 500 brands to date, as well as numerous advertising agencies, SMBs, and YouTube stars. ViralGains' inventory includes native and mobile video units placed within premium websites, influencers, social games, and social networks. The ViralGains Praxis targets by 4,000 human attributes while using a recommendation engine to find viewers who are most interested in watching the advertiser's video.
"This round is going to allow ViralGains to scale up our advertising technology platform to bring on more advertisers who can buy video ad placements from us, and more publishers who can create revenue from those ad placements," said ViralGains CEO Jay Singh. "Viral video is having a broad positive impact on the global culture and ViralGains is making it easy for advertisers of all sizes to drive views, shares, and conversations to their video."
ViralGains is building the first global exchange for viral video. Since 2012, ViralGains has been on a mission to create authentic relationships between advertisers and customers through online video. ViralGains works with ad agencies, brands, and YouTube stars to get their videos watched and shared by the right audiences. Praxis, ViralGains' video ad platform, integrates targeting by thousands of human attributes, ad placements on native and social environments, and real time reporting capability to generate positive returns on marketing investment. ViralGains is headquartered in Boston, MA and is actively expanding to New York, Chicago, and Southern California. More information is available at www.ViralGains.com.
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