Today, we’re excited to announce that we have raised $1 Million in additional funding, and I am taking on a new role as the company’s CEO. The new round is a Seed Extension, and includes new investor SoftTech VC, as well as participation from First Round Capital, 500 Startups, Accelerator Ventures, and Joi Ito. We plan to use the funding to develop technology behind our Dynamic Product Ads Platform.
The reason we chose to do a Seed Extension round instead of a larger Series A was because we wanted to prioritize more product development before we scale out our sales and operations. We believe that technology must be at the core of what we do if we are going to solve important problems – and our seed investors understand that technology is not built overnight. It takes at least two nights… maybe three. Regardless, this latest capital infusion will give us the time we need to build a strong technology underpinning to our product that will help us scale more efficiently.
I am thrilled to be entrusted by our Founder Selcuk Atli, and our Board with the role of CEO. Selcuk did an incredible job getting the company to this stage, having raised two rounds of funding and built an all-star team. He will keep driving SocialWire’s vision and pushing our product strategy in new directions as Executive Chairman. We’re all excited for what’s to come.