ViralGains, a video advertising platform, today secured a total of $13.5 million in Series B equity and debt funding. Included in the sum is $10 million in equity capital from new investors First Analysis and Orgin Ventures, existing investors included Stage 1 ventures, Pallasite Ventures, and Launch Capital. As far as debt funding goes, the company closed $3.5 million from Square 1 Bank, a division of Pacific Western Bank. In addition, Jim Macdonald, Managing Director at First Analysis, which led the round, is joining ViralGains’ board of directors.
The investments will be used to beef up ViralGains growing market share in video advertising.
“Our latest round of funding is a testament to the way our platform drives the deepest engagement, consumer connection and business results for the largest and most demanding brands in the world,” expressed Tod Loofbourrow, CEO, ViralGains. “We are seeing bigger budgets that traditionally went to Facebook and Google as brands recognize that video isn’t about two second views or impressions, it is about meaningful engagement and sales.”
The new funding follows a record period of growth for the company, which has grown by 600% over the last three years. Earlier this year, ViralGains opened new offices in Detroit and San Francisco to expand to seven key markets in the U.S., and secured a new, larger Boston headquarters to support the company’s rapid growth.
“What makes the ViralGains platform unique is its ability to turn the attitudes and behaviors of consumers into meaningful connections with brands,” said Macdonald. “This is the first investment for our 13th fund, so we are especially excited to work with ViralGains as they transform video into an engine for turning advertising into real consumer journeys that move people to make purchases.”