Online advertising agencies seeking to harness the potential of new pastures might do well to take a look at social media advertising startup Moontoast, which has just secured Series B funding worth $5 million.
The firm’s client list may not be especially long at 50, but sometimes size doesn’t matter. Especially if the list includes names like Nike, Universal, Hyundai, Nexus, Time, Simon & Schuster and Lady Antebellum. Many an art director, account manager and copywriter would fall off their chairs in their haste to grab a client list like that.
No rehashed traditional ads from Moontoast
Moontoast’s Social Activation Platform was developed to help ad agencies and brands gain impressive ROIs by distributing transactional, interactive rich media ads. It also yields business metrics about the impact and reach of the ads.
Moontoast divides its ads into a series of categories; sweepstakes, surveys and a “social store”. It also features a unit that temptingly offers free MP3s when ad viewers give their email details.
The company makes a point of ensuring that its rich media social offerings aren’t just traditional ads rehashed for Twitter and Facebook. Marcus Whitney, Moontoast’s CTO and co-founder, said, “In the social advertising world, the actual creative is conversational. It’s much more marketing than standard, old world advertising. Our units are meant to really bring the conversation to life.”
Toward profitability
The latest cash injection comes courtesy of The Martin Companies, which led the round, with a little help from earlier investors. Moontoast’s total funding now tips the scales at $14 million.
The Martin Companies’ MD Les Wilkinson said, “Moontoast is a clear leader in the rapidly changing social advertising market, offering a scalable, comprehensive rich media platform that delivers demonstrable social ROI by creating deeper brand engagement within today’s dynamic social landscape.”
The new funds will enable Moontoast to further develop its Social Activation Platform, which has just been updated, grow its business development, sales and client services and expand its product development and marketing teams. All of this should allow the company to take a significant step closer to reaching profitability.