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Funding

Social media firm SocioSquare, raises $325,000 funding from angel investors in US & UK

Team YS15209 Stories
Social media firm SocioSquare, raises $325,000 funding from angel investors in US & UK

Monday August 19, 2013 , 2 min Read

Mumbai-based social media marketing company, SocioSquare - a division of AKG Technologies - has raised $325,000 investment from angel investors in the US, the UK and Turkey. SocioSquare is recognized by investors as a SaaS company.

social_square
The company plans to use the raised investments to launch social media products which can help make social advertising more effective and content creation easy. AKG has developed a product on top of Facebook's ads API, which is currently submitted to Facebook for the Preferred Marketing Developer Badge (PMD). They plan to roll out this product in the coming month and take it global by end of year.

SocioSquare currently handles social media for brands such as The Mobile Store, Zee Group (ZeeKhanaKhazana, Ditto TV), 99acres.com, Hokey Pokey Ice creams, among others.

Sharing his enthusiasm, Gaurav Mendiratta, founder and CEO, SocioSquare said, "Today, everyone is facing common problems of ROI from social ads as well as their content reaching a small percentage of current followers/fans. We have developed two products to solve these problems and this investment will help us take them to market."

This round of investment is led by Dr. David Bell, who is a professor at the Wharton School. His research areas include digital marketing, e-commerce and retail marketing. His earlier advising and angel investments included Diapers.com, which was acquired by Amazon, and WarbyParker.com, a player in the online prescription eyeglasses and sun glasses space in US.

Talking about his investment, Dr. David Bell shared: "Effective and profitable use of social media is the 'holy grail' for small and large firms alike, but it's not easy to get there. That requires the kinds of modeling and analytics that the team at SocioSquare have developed. I'm very excited by the opportunity to help our clients."

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