Social commerce platform Moontoast is shifting its focus to emphasize the growing social advertising movement, the company tells VentureBeat.
Previously, Moontoast’s platform allowed big brands and entertainers to embed a store within their social news feeds, websites, and such — with the idea being that you can get people to buy a product/deal much easier if they never have to navigate away from their Facebook page (or whatever they may be engaging in). The service featured its own set of analytics to track various brands campaigns as well as some gamification-like services. And while those aspects are still very much a part of the platform, Moontoast now wants to focus on providing advertising within the social stream.
The new focus on social ads comes with a set of brand new clients, such as Lexus, which is already using Moontoast’s platform to provide video ads for its 2014 line of vehicles.
“If you look at the overall market opportunity, more brands are looking for ways to provide brand awareness (through) interactions and engagement,” said Moontoast CEO Blair Heavey in an interview with VentureBeat. “We’re expanded what were doing because of the success we’ve had in social commerce.”
The startup is also just closed a $5 million series B round of funding. The round is led by The Martin Companies, with participation from previous investors.
Founded in 2008, the Boston, Mass.-based startup has previously raised $6 million , and now has $11 million in total funding to date. Moontoast, whose other clients include Universal Music Group, Procter & Gamble, Time Inc., and Simon & Schuster, faces competition from TopSpin, 8thBridge, and others.
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