Mobiquity, a Boston, MA-based provider of mobile engagement solutions, raised additional $5M in funding.
The round was led by NewSpring Growth, the dedicated technology and business services growth equity fund of NewSpring Capital, with participation from existing institutional investors. The new funding is an extension of the $12M Series B round Mobiquity secured in June 2013 (read here), bringing its total financing to date to $24m.
The company intends to use the funds to make strategic hires for its core business units and further develop its product innovations and technology frameworks, including its behavior change platform.
Led by Bill Seibel, Mobiquity founder, chairman, and chief executive officer, Mobiquity is a mobile engagement provider that blends strategy, user-centered design and core technology to create innovative solutions. Recently, the company launched a new healthcare business unit.
Since inception in 2011, it has worked with more than 170 companies, including CVS, Fidelity Investments, Ziggo, MetLife, the New York Post, Pfizer, Medavie Blue Cross, Putnam Investments, KPN, The Boston Globe, The Weather Channel and Weight Watchers International.