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Moontoast LLC, a brand-focused social commerce software startup in Andover, has pulled together $6 million in a funding round led by Nashville venture capital firm The Martin Companies.
The company, which also has an office in Nashville, has created a “social activation engine” that relies on a software as a service platform to connect brands with customers via social networks, blogs, affiliate sites and ad networks. It is intended to help its target customers – retail, celebrities, athletes, musicians and authors – monetize their brand with distributed storefronts through their social network. Its client list include Universal Music Group, Simon & Schuster, IdeaPaint, Tretorn and Time/Fortune.
Founded in 2008 with its platform launched in 2010, Moontoast immediately saw a return on its social campaign model, with $10,000 processed from on Facebook post in one hour, the company said.
Moontoast’s $6 million funding was backed by The Martin Companies, an early stage technology and healthcare-focused investment firm, as well as the company’s previous backers.
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