Last Friday we closed the first portion of our Series A funding. We are very excited about this as it launches us into the next phase of our growth. With a more sturdy checkbook, we will now do some much needed hiring, get an office (gone are the days of working in coffee shops and temporary offices) and take the company nationwide.
MentorTech Ventures, a venture capitalist based in Philadelphia, led the round and we had participation from several prominent Seattle area investors. We still are looking to raise a small amount before we close the round.
We are thrilled to be working with MentorTech as they bring a lot to the table. They've been involved in several recent successful startups including Diapers.com, MerchantCircle, ClickEquations, TicketLeap, PayQuik, and Yodle. Michael Aronson and Brett Topche from MentorTech understand online marketing and our business well. Michael will be joining our board.
Also joining our Board will be David Reibstein, a former marketing professor of mine while I was at Wharton. David is a great addition to the team with his keen marketing mind and wealth of marketing experience. David has been involved with numerous other Wharton startups including BizRate, of which he was a Board Member.
We are very appreciative of our investors for the trust they've put into us and to the many other people that have helped us along the way! Thank you!