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SmartCrowdz Latest Fundraising Initiative Issues Convertible Notes to Existing Investors as Follow on to its $1.9 Million Series B Funding
Columbus, OH (PRWEB) February 05, 2014
SmartCrowdz announced today that it has issued $500k of Convertible Notes to existing investors as a follow on to its successful Series B Equity Round, bringing its past 12-month funding total to over $2.4 million.
The proceeds from the Convertible Notes will be used to:
1. Continue the development of its industry-leading event marketing, management and monetization application;
2. Accelerate the launch and roll-out of its multi-faceted marketing program; and
3. Expand its telesales campaign targeted at event planners and managers.
To date, SmartCrowdz has been funded by its founders and prominent angel investors in New York, Pennsylvania, Florida, California and Ohio. The Company will evaluate the need for an institutional-led round later this year.
"We are pleased at the excitement and confidence our investors continue to show in the Company, our executive team, our business model and the vast event technology market opportunity," said Randy Smith, co-founder and Managing Partner of SmartCrowdz. "Investor confidence is in large part the result of our ability to efficiently leverage the capital they have entrusted us with in developing the industrys first end-to-end event marketing, management and monetization platform."
At the core of the SmartCrowdz comprehensive functionality are the critical 3 Ms required to run successful events:
With the success of the recent funding round, we have the opportunity to accelerate development of an application that is dramatically changing the way event managers market, manage and monetize their events, said Mike Lanese, co-founder and Managing Partner of SmartCrowdz. And when combined with our game-changing business model based on free access for event managers, participants and attendees, the additional capital allows us to expand our marketing programs to create awareness and rapid customer adoption, ultimately maximizing the value of the Company.
Founded in Columbus, Ohio, in 2012, SmartCrowdz is a free event marketing, management and monetization application for events of virtually any size or type. Whether you manage events for a charity, government organization, sports league, corporation or any other group or organization, SmartCrowdz can help ensure your next event is a success.
SmartCrowdz helps event planners and managers: (1) expand event turnout, participation and engagement, (2) efficiently coordinate and manage all the event participants and tasks, and (3) maximize the commercial goals of the event through a wide range of online revenue generating functions. SmartCrowdz provides and integrates all requisite technologies (task management, mapping, social media, electronic communications, digital payments and more) required to effectively market, manage and monetize events in one easy-to-use application.
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