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November 14, 2012 03:53 pm GMT
Mobile advertising network Mojiva has raised another $7 million in funding from current investors in the company, part of a larger raise the company is in the process of closing to hire more people, build more data layers into its network, and expand its new tablet advertising network. The amount was first revealed in a Form D filed with the SEC, and we have confirmed the details with David Gwozdz, the CEO of the company. He tells us that "this Form D is the tip of the iceberg, the first bit to a larger amount to be drawn as we need the funds along the way." The company, which he says is currently growing at a rate of 100% per year and is approaching break-even on its balance sheet, has also closed a credit line with SVB bank to allow us to finance additional working capital. The amount of that credit line was not disclosed.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/1WVi0UxZ10g/
Growing 100% Per Year, Mobile Ad Network Mojiva Raises Another $7M, And CEO Says This Is Just The Tip Of The Iceberg
Mobile advertising network Mojiva has raised another $7 million in funding from current investors in the company, part of a larger raise the company is in the process of closing to hire more people, build more data layers into its network, and expand its new tablet advertising network. The amount was first revealed in a Form D filed with the SEC, and we have confirmed the details with David Gwozdz, the CEO of the company. He tells us that "this Form D is the tip of the iceberg, the first bit to a larger amount to be drawn as we need the funds along the way." The company, which he says is currently growing at a rate of 100% per year and is approaching break-even on its balance sheet, has also closed a credit line with SVB bank to allow us to finance additional working capital. The amount of that credit line was not disclosed.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/1WVi0UxZ10g/
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