Zadspace Closes $3.2M Series B Venture Financing Round
Published On March 24, 2011 |
Zadspace Inc., a Norwalk, Connecticut software-as-a-service (SaaS)-based platform that enables retailers to deliver targeted advertisements on 4” x 6” color labels affixed to packages shipped to consumers, has closed a $3.2m Series B venture financing round.
The round was led by Connecticut Innovations and DFJ Frontier, with participation from new investors Cava Capital, LaunchCapital, and David F. Zucker and existing investors Crosscut Ventures and The Gideon Hixon Fund.
In conjunction with the financing, Zucker and Pauline Murphy of Connecticut Innovations joined the company’s board of directors.
Zadspace, which has raised over $6m to date, will primarily use the new funding to grow its distribution network and to increase its client base of advertisers.
The company has also engaged Jeff Giordano as executive board member and interim CEO.