Moontoast, the social advertising startup has raised $5 Million in series B funding, reports Antony Ha of Techcrunch. The clientele of the company counts upto fifty currently, which includes names such as Universal, Lexus, Nike, Ford, Lady Antebellum, Time, and Simon & Schuster. The service of Moontoast is used to create customized ads for the social media. This includes a social store and a small section that provides e-mail addresses in exchange for free MP3’s.
This round of funding was led by The Martin Companies, which brings the total count of the company to $14 million. The proceeds will be used for the growth and profitability of the business.
Marcus Whitney, CTO and Co-Founder says, that these ads are not repackaged for the social networking sites such as Twitter or Facebook, instead they are advertisements with rich content.
“In the social advertising world, the actual creative is conversational; it’s much more marketing than standard, old world advertising. Our units are meant to really bring the conversation to life.” Whitney said.
Additionally the company plans to upgrade its platform, by introducing a new analytics service securing Facebook Ads API, says Whitney. He further adds that the company wants to focus on this project throughput the year. Founded in Nashville initially, now half of the company is shifted to Boston.