SplashCast announced the closing of their A series of funding, today, a round which brought the company $4 million in working capital. The round was led by Mark Bayliss, an advertising veteran based in Australia. The investment lands Bayliss a seat on the SplashCast board, a move which promises to help the company in its continued pursuit of big-media clients.
When asked what this investment and investor means to the company, CEO Mike Berkley had this to say:
“What does this mean for the company?” said Berkley. “The relationships that Bayliss and his partners bring to SplashCast gives the company a monumental step-up in social marketing.”
Additional funding was provided by Emergent, an emerging growth investment fund with strong ties to advertising and consumer brands.
NewTeeVee's Liz Gannes had this take on SplashCast's "social advertising" and its position against traditional online advertising media:
[H]aving a direct channel to the customer is pretty useful in this day and age of abysmal click-through rates on the social networks where kids spend all their time. Berkley claims his ads receive 3 percent CTRs, quite a ways up from the decimals you’ll see for banner ads on Facebook.
For more information on this announcement and SplashCast's social advertising, visit SplashCast.