Betapond, an Irish company that focuses on converging social media technologies and innovative marketing techniques to deliver social media marketing products and services, has raised €1.15m in venture capital funding.
Backers include the Bank of Ireland Start-up and Emerging Sectors Equity Fund, managed by Delta Partners, Irrus Investments, and Enterprise Ireland.
The company intends to use the funding to expand into new markets, broaden its technology platform and to double staff levels to 25 within the next year.
Founded in 2009 and led by Declan Kennedy, Betapond develops Facebook apps and retail marketing products, which are used by the retail, entertainment and tourism sectors to incentivize consumers to generate social recommendations. Clients include leading advertising agencies in Europe along with blue chip brands in the retail, food & beverage, entertainment and destination marketing industries. Among them, Paddy Power, Tourism Ireland, Visit Britain and a number of London & European advertising agencies.
The company is one of only 90 Facebook Preferred Developer Consultants globally. It has offices in Waterford, Dublin, London and California.