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MomentFeed Raises $10 Million to Accelerate Proximity Search…

New Funding, Growing Demand from Multi-Location Brands, and Bold Product Vision Position MomentFeed for Accelerated Growth.

(PRWeb July 29, 2020)

Read the full story at https://www.prweb.com/releases/momentfeed_raises_10_million_to_accelerate_proximity_search_optimization_innovation_for_multi_location_brands/prweb17290206.htm

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“Interest in MomentFeed has grown significantly as multi-location brands look to influence a purchase decision that often starts with a mobile search, a trend that has accelerated during COVID-19.” — Nick Hedges, MomentFeed CEO

MomentFeed, the leading provider of Proximity Search Optimization software, today announced it has closed $10 million in funding led by private equity firm Level Equity. Previous investors Signia Venture Partners, Draper Nexus, and DFJ Frontier also participated. To date the company has raised more than $38.3 million in funding.

MomentFeed helps multi-location brand marketers capitalize on the digitally-driven consumer, who turns to their mobile device to research nearly every purchase. This same consumer increasingly prioritizes convenience over brand as demonstrated by the rise in unbranded “near me” searches such as “grocery store near me” on Google and other discovery networks.

To succeed in this new era, the most recognized, multi-location brands have turned to MomentFeed to ensure their brand is visible when nearby consumers search. The company’s Proximity Search Optimization platform helps brands effectively manage local listings, local reviews and ratings, and local social media across hundreds or even thousands of locations.

MomentFeed CEO Nick Hedges credits the success and growth of the company to an obsessive customer focus that has become even more important as the company helps its clients maintain high levels of digital visibility during COVID-19.

“Interest in MomentFeed has grown significantly as multi-location brands look to influence a purchase decision that often starts with a mobile search, a trend that has accelerated during COVID-19,” said Hedges. “Brands want to be the first to show up in mobile search results with accurate, trustworthy information that instills confidence and drives sales. We believe we have the best platform in the industry to help our clients achieve these goals today, but also recognize there is opportunity for innovation to help our clients continue to excel. This funding will help us do just that.”

The capital infusion will fuel MomentFeed’s efforts to meet growing demand for its Proximity Search Optimization platform, helping multi-location brands continue to outperform competitors in proximity discovery, reputation, and loyalty. MomentFeed is committed to being the platform innovation leader and will more than double the size of its research and development team by the end of 2020.

Earlier this month the company unveiled its most recent innovation, a Proximity Search Optimization Dashboard that helps multi-location marketers more easily stay on top of the five key factors needed to target and convert local consumers.

“We are very excited by the direction that MomentFeed is headed in and are delighted to have the opportunity to lead this new round,” said Sarah Sommer, partner at Level Equity. “This is an already large and now accelerating category as MomentFeed becomes business essential. We are really pleased to be able to support MomentFeed in this next wave of innovation and growth.”

“As we look ahead to the next decade, we see massive greenfield opportunities to reimagine how online and offline experiences are connected. We remain steadfast in our mission to unite mobile consumers with brands locally,” said Hedges.

ABOUT MOMENTFEED

MomentFeed is the leading Proximity Search Optimization platform trusted by many of the largest multi-location brands in the restaurant, retail, automotive, hospitality, and financial services industries. Proximity Search Optimization is gaining significant interest from CMOs of multi-location, national brands and franchises as a way to show up locally, at the precise moment a customer has a need. MomentFeed makes it possible for national brands to execute hyperlocal marketing campaigns at scale – driving local awareness, in-store traffic, and more calls for appointments and orders.

Founded in 2010, MomentFeed is headquartered in Santa Monica, California. An Inc 5000 Fastest Growing Privately Held Company, it was also named a Comparably Best Company.

For more information visit http://www.momentfeed.com | Twitter | LinkedIn | Facebook

ABOUT LEVEL EQUITY

Based in New York, NY, Level Equity is a private investment firm focused on rapidly growing software and technology-driven businesses. Level provides long term capital across all transaction types in support of continued growth. The firm has raised $1.7 billion in committed capital. For more information, visit http://www.levelequity.com.

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Source: https://www.prweb.com/releases/momentfeed_raises_10_million_to_accelerate_proximity_search_optimization_innovation_for_multi_location_brands/prweb17290206.htm

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” The Leapfunder Note is a sensible and attractive way to place capital in start-ups in the Netherlands “

” Diversification is important in angel investing. Leapfunder is a platform that allows angels to spread their investments. “

” Leapfunder investing allows you to become actively involved in a start-up, just as in classical angel investing, while taking all the hassle out of transaction execution “

” Leapfunder is ideal for investing smaller amounts in a start-up in the very early stages. Such investments can be a powerful addition to a portfolio “

” With Leapfunder you get a great opportunity to build up a diversified portfolio of start-up investments, often investors can play an active role in developing the company “

” When I saw the Leapfunder proposition I thought straight-away: this is what start-ups need. I am an entrepreneur and wish this system had been available when I started my company. “

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Source: https://www.leapfunder.com/companies/237

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iCapital Network celebrates reaching milestones in its European and Asian expansion efforts

From: FinTech Global Alternative investment FinTech iCapital Network is celebrating reaching a series of milestones in its expansion into the European and Asian markets. The WealthTech platform is created to drive access and efficiency in alternative investing for the asset and wealth management industries. The growth across the European and Asian markets comes hot on […]

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From: FinTech Global
Alternative investment FinTech iCapital Network is celebrating reaching a series of milestones in i

Source: https://www.altassets.net/private-equity-news/by-news-type/people-news/icapital-network-celebrates-reaching-milestones-in-its-european-and-asian-expansion-efforts.html

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Medtech venture investment continues climb globally

Investors pumped $5.05bn into start-ups in growing fields such as surgical robotics, telehealth and cancer blood testing in the third quarter

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Global venture capital funding of medical technology continued its climb last quarter, with investors pumping $5.05bn into start-ups in growing fields such as surgical robotics, telehealth and cancer blood testing, industry data show.

Third-quarter venture investment rose about 4.7% from the $4.83bn that medtech start-ups raised in the second quarter, and by more than 63% from the $3.09bn they secured in the third quarter of 2019, according to data from market tracker CB Insights.

Venture funding jumped despite the novel coronavirus pandemic, which forced hospitals to postpone elective surgeries and hamstrung some companies that had been seeking to launch their products.

Yet many companies raising venture capital this year are still developing their technology and haven’t been affected by the slowdown, said CB analyst Marissa Schlueter.

Investors also haven’t let the pandemic dissuade them from betting on the potential of robotics to improve surgery and on new blood tests that could enable earlier cancer detection. In August, for example, San Francisco-based Freenome Holdings collected $270m to pursue regulatory approval for a blood test to detect colorectal cancer and Massachusetts-based Vicarious Surgical, which applies virtual reality and robotics to minimally invasive surgery, took in $13.2m.

Some medtech start-ups have fielded rising interest in their technology during the pandemic, including telehealth companies and those with tests or devices that can combat the new virus.

This month, for example, telehealth concern 98point6, a provider of virtual primary care services based in Seattle, disclosed a $118m financing.
CB Insights considered a variety of medical technology companies in its analysis, including those seeking to diagnose, treat, monitor or prevent diseases.

A strengthening market for medtech initial public offerings and acquisitions also is encouraging venture investment. In the third quarter, 40 medtech companies were acquired and 14 went public, according to CB Insights. That is up from 37 acquisitions and 13 IPOs in the second quarter. In the third quarter of 2019, 28 companies were acquired and 15 went public.
Companies’ ability to raise venture capital enables them to remain private longer and put themselves in a stronger position for an IPO, said Tom Shehab, a managing partner with Arboretum Ventures.

California-based Eargo, which sells hearing aids that fit inside the ear, incorporated in 2010 and began operations in late 2012. On Friday, 16 October, the company, which has raised more than $206.6m in venture capital according to Crunchbase, went public at $18 a share. The stock leapt 87.1% to close at $33.68.

Eargo posted $28.6m in net revenue for the six months ended 30 June, nearly doubling the $14.4m in net revenue it reported for the same period of 2019, according to a regulatory filing.
In the company’s early days, relatively few venture firms focused on medtech, chief executive Christian Gormsen said. But in raising the company’s most recent venture round earlier this year, he spoke with about 100 investors, he said.

Eargo, which sells hearing aids directly to patients, fits a growing trend toward consumers playing a larger role in their healthcare, which also increased its appeal to investors, he said. “Medical technology as a category is getting more and more attention from venture capital,” Gormsen said.

From The Wall Street Journal

Source: https://www.penews.com/articles/medtech-venture-investment-continues-climb-globally-20201027

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