MomentFeed, a Santa Monica, CA-based provider of Proximity Search Optimization software, closed $10m in funding.
The round was led by private equity firm Level Equity with participation from previous investors Signia Venture Partners, Draper Nexus, and DFJ Frontier also participated.
The company, which has raised more than $38.3m to date, intends to use the funds to accelerate its efforts to meet demand for its Proximity Search Optimization platform and more than double the size of its research and development team by the end of 2020.
Founded in 2010 and led by CEO Nick Hedges, MomentFeed provides a Proximity Search Optimization platform for multi-location brands in the restaurant, retail, automotive, hospitality, and financial services industries to effectively manage local listings, local reviews and ratings, and local social media across hundreds or even thousands of locations.
Earlier this month, the company launched its most recent innovation, a Proximity Search Optimization Dashboard that helps multi-location marketers more easily stay on top of the key factors needed to target and convert local consumers.