Milyoni said Wednesday that it secured $3 million in Series A financing from returning seed investors ATA Ventures and Thomvest Ventures. The Pleasanton, Calif., company will use the funding to extend its social commerce platforms and applications that companies use to sell both real and digital goods.
Leading F-Commerce Provider Milyoni Secures $3 Million in Funding
Series A Funding Supports Product Development and Extends Lead in Social Commerce
PLEASANTON, Calif. – May 25, 2011 – Milyoni, the leader in Facebook commerce, today announced that it has secured $3 million in Series A financing from returning seed investors ATA Ventures and Thomvest Ventures. The company will use the funding to extend its lead in social commerce platforms and applications that companies use to sell both real and digital goods. The funds will also be used for marketing and business development in entertainment, sports, consumer electronics and specialty retail industries.
“With the social commerce market projected to reach $30 billion globally by 2015, a huge market opportunity is there for companies wanting to tap the Facebook platform to secure and enhance customer loyalty,” said John Corpus, founder and CEO of Milyoni. “We are lucky to work with some of the most innovative and digitally-savvy customers, and are excited to continue expanding the markets that we reach.”
The Milyoni Conversational Commerce™ Platform gives companies an easy way to connect and engage with fans on Facebook. Milyoni’s leading f-commerce solution already powers over 50 brands today, including Warner Brothers, The NBA, The Miami HEAT, Oklahoma University. Together, these companies represent more than 80 million Facebook fans. Milyoni’s Series A funding puts the company in a prime position to continue growing its share of the billion dollar social commerce market.
“As a seed investor in Milyoni, we have watched the company exceed expectations and beat their milestones,” said Hatch Graham, managing director, ATA Ventures. “We have been impressed by the execution of Milyoni, their strong entrepreneurial team and innovative technology, as exemplified by the high caliber of customers they have secured just in the last year. This financing will further cement the company’s leadership in the billion dollar social commerce space.”
Some of today’s leading companies already use Milyoni to build their brands, sell products, and monetize fan pages and branded storefronts on Facebook through its Social Shopping and Social Theater products. For more information, visit www.milyoni.com.
Based in the San Francisco Bay Area, Milyoni, Inc. is the leader in Facebook commerce. The company’s Conversational Commerce™ platform gives companies an easy way to connect and engage with fans, enhance their brands, sell products, and monetize fan pages and branded storefronts on Facebook. Milyoni’s Social Shopping and Social Theater products reach over 80 million fans from industry leading customers, including Warner Brothers, The NBA, The Miami HEAT, Oklahoma University and more. For more information, visit www.milyoni.com.
About ATA Ventures
ATA Ventures is a venture capital firm focused on seeking out early stage private companies that appear to offer above average prospects for capital growth. With over $450 Million of capital under management, ATA Ventures focuses on Information Technology (IT) and provides seed capital and early stages of financing to these companies. For more information, visit ATA Ventures (http://ataventures.com).
About Thomvest Ventures
Thomvest is a venture capital that focuses on working with early stage technology companies. With offices in the Bay Area and Toronto, Thomvest focuses on working with companies that are distinguished by their intellectual property and their ability to apply technology to serve large and growing markets. For more information, visit Thomvest Ventures (http://thomvest.com).
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