SALT LAKE CITY--(BUSINESS WIRE)--GroSocial today announced the close of a $450,000 seed funding round, together with the addition of three new members on the company’s board of directors. The round was led by Kickstart Seed Fund, with additional contributions from Monarch Ventures, Rock & Hammer Ventures as well as other angel investors.
“I invested in GroSocial because it is solving a very real problem for small businesses: getting into social marketing at a minimal cost and in a way that an average small business can utilize without significant training or expertise,” said Curt Roberts, an angel investor and new board member of GroSocial. “This company has huge potential for growth, because it is in an enormous, growing market and because it has developed a superior, uniquely cost-effective product line that creates tremendous value for small businesses and the enterprise alike.”
Roberts is one of three new members of the GroSocial Board of Directors. The others are Monarch Ventures founder and managing director JD Gardner, a successful entrepreneur and investor who also founded the successful Costa Vida, a fresh Mex restaurant chain and ZenPrint, where he currently serves as CEO; and Chris Russell, managing director of Rock & Hammer Ventures, which made the first investment in GroSocial.
“We are excited to have the support and guidance of such a renowned group of investors and board members,” said Zach Mangum, CEO of GroSocial. “We are confident that their combined experience and expertise will help guide us to becoming the top provider of social media marketing services to small-to-medium businesses as well as the enterprise.”
“Rock & Hammer was the first group to invest in GroSocial more than a year ago,” said Russell. “We are extremely pleased with the progress made by the team to date and welcome this opportunity to further our investment. We believe GroSocial has the potential to be a solid market leader in enterprise social media technology.”
GroSocial recently released its Customer Enterprise service which is built on the company’s flagship Customizer platform and enables major organizations to propel their brands by running custom-designed promotional tabs across their partner networks on Facebook. Likewise, the platform enables partner companies to realize the benefits of being associated with a larger brand and to leverage that brand by promoting sales, running customized contests or promotions, distributing coupons or adding highlight videos – all without having to pay expensive design and development fees.
The new funding round will enable the company to refine its core product line, which enables users to cost-effectively leverage social networking tools such as Facebook and Twitter, and to develop tools for additional social networks.
About GroSocial
GroSocial (www.GroSocial.com), headquartered in Orem, Utah, is a creator of innovative social media marketing software that helps enterprises and small-to-medium businesses expand their brands and find new customers through leading social media sites, including Facebook and Twitter. The company’s products have helped thousands of businesses in countries across the world easily and affordably increase their social media presence and influence through effective, targeted online branding, community creation, public relations and other touchpoints focused on converting audience engagement into revenue. GroSocial can be found on Facebook at www.facebook.com/grosocial, and on Twitter at Twitter.com/grosocial.