Kinetic Social, a social media advertising technology company, announced that it has raised $8 million in an initial close of a Series A round of financing. The pact was structured with a companion venture term debt facility.
Kinetic said the equity financing was provided by Blue Chip Venture Company (BCVC), and the venture debt financing was provided by Gibraltar Business Capital.
The company said it is also actively considering several offers to expand its series A transaction with additional equity capital. The venture debt from Gibraltar comes on top of a revolving working capital facility provided in mid-2012. The company was launched in 2011 with early stage capital provided by RBC Bank.
“Blue Chip has been watching this market for over two years now, waiting for the leader to emerge, and we feel Kinetic Social is that leader,” said Mark Wright, managing director of Blue Chip. “Kinetic is unique in a number of ways: it is only one of several companies that can optimize social advertising campaigns across all the major social networks, and it has a distinct capability to marry that advertising with display and mobile campaigns; its proprietary data-based technique for enhancing its target marketing capabilities is entirely unique and is widely regarded as the most advanced in the market.”