Social media advertising group Moontoast has landed another $4.5 million in capital from a local investment firm after nearly quadrupling its revenues in 2013.
The latest funding from Martin Companies is an extension to Moontoast’s Series B round, which a year ago brought in $5 million.
Company officials say the money will help them expand their social rich media analytics and optimization services, which are being used by brands such as Toyota, P&G, Nike, Samsung and Nissan.
“We anticipate that 2014 will be a year of further acceleration and continued platform innovation,” Moontoast CEO Blair Heavey said. “This investment will allow us to accelerate these efforts and to further extend our market leadership and results in social rich media.”
Heavey said the company grew its revenues by 277 percent in 2013. The company, which has offices in Boston, Nashville, New York and San Francisco, employs about 40 people.
"We are excited to continue supporting Moontoast, and working with the company's outstanding team to develop, and bring ground-breaking social rich media advertising to top brands," said Les Wilkinson, managing director and general counsel at the Martin Companies.