Earlier in July, the company launched its most recent innovation, a Proximity Search Optimization Dashboard that helps multi-location marketers more easily stay on top of the critical factors needed to target and convert local consumers.
FREMONT, CA: Santa Monica based provider of Proximity Search Optimization Software, MomentFeed, secured USD 10 million in a funding round led by private equity firm Level Equity, with participation from previous investors Signia Venture Partners, Draper Nexus, and DFJ Frontier. The company has raised over USD 38.3 million to date. Proceeds from the latest investment round will be used by the company to accelerate its efforts to meet the demand for its Proximity Search Optimization platform and more than double the size of its research and development team by the end of 2020.
“Interest in MomentFeed has grown significantly as multi-location brands look to influence a purchase decision that often starts with a mobile search, a trend that has accelerated during COVID-19,” said CEO Nick Hedges. “Brands want to be the first to show up in mobile search results with accurate, trustworthy information that instills confidence and drives sales. We believe we have the best platform in the industry to help our clients achieve these goals today, but also recognize there is opportunity for innovation to help our clients continue to excel. This funding will help us do just that.”
MomentFeed provides a Proximity Search Optimization platform for multi-location brands in the restaurant, retail, automotive, hospitality, and financial services industries to effectively manage local listings, local reviews and ratings, and local social media across hundreds or even thousands of locations. Earlier in July, the company launched its most recent innovation, a Proximity Search Optimization Dashboard that helps multi-location marketers more easily stay on top of the critical factors needed to target and convert local consumers. MomentFeed was listed as one of the Most Promising Digital Marketing Solution Providers in 2018 by CIO Review magazine.
“We are very excited by the direction that MomentFeed is headed in and are delighted to have the opportunity to lead this new round,” said Sarah Sommer, partner at Level Equity. “This is an already large and now accelerating category as MomentFeed becomes business essential. We are really pleased to be able to support MomentFeed in this next wave of innovation and growth.”