MomentFeed, which helps companies customize and manage their marketing strategies, announced today a funding round of $16.3 million.
The Santa Monica, Calif.-based startup provides software that centralizes all of a brand’s social media accounts onto a single dashboard-like page. From there, brands can manage, post, reply, and advertise without having to log on to different accounts. MomentFeed connects to the APIs of Google, Facebook, Yelp, and other popular networks to gather all of the brand’s logins and profiles.
“When you’re on your phone, every recommendation is based on your location,” Robert Blatt, chief executive of MomentFeed, wrote in an email to VentureBeat. “We use that location to help companies with hundreds of stores manage all the activities required to make each of their stores a consumer’s top choice, including search engine marketing, social media marketing, mobile advertising, and customer care.”
Blatt says that retailers and restaurant chains have a lot of social media pages to manage, so MomentFeed swoops in as a “virtual marketer” to help them target their brand’s mobile outreach. “Without actively managing the data, reviews, ads, and posts on each of these location pages, brands are losing a ton of business, as mobile now influences more than 50 percent of all offline sales,” Blatt said.
The startup charges an annual subscription fee based on the number of locations a brand has and the number of MomentFeed products and services it is using. The startup counts almost 180 customers, which include Jamba Juice, Mercedes-Benz, Pizza Hut, Sephora, and Starbucks.
Blatt considers Yext, Sprinklr, Rio SEO, and Brandify to be competitors.
Today’s investment was led by Level Equity, and existing investors Signia Venture Partners, Draper Nexus, and DFJ Frontier also joined. The capital will be used for hiring, marketing, and product development.
Founded in 2010, MomentFeed has raised a total of $28.3 million and currently has a little over 100 employees.