Fragmob, a San Diego-based developer of Direct Selling mobile technology, closed $3.2m in convertible debt funding.
The round was led by Global Trust Group’s Global Technology Fund and the company’s two founders, Jade Charles and Jonathan Shapiro.
The company, which expects to raise a larger round of financing in early 2016, intends to use the funds to builds the team, expedite product development in mobile, analytic and commerce products.
Led by Charles and Shapiro, Fragmob triggers action through technology that enables Direct Selling companies including ItWorks!, Organo Gold, LifeVantage, Omnilife, Purium, ViSalus and other leaders, to turn a sales rep’s smartphone into a point of sale, a tracking system for orders and a guide to the best sales and team actions to take in real-time.
The platform also provides analytics intelligence.