Spongecell, a programmatic creative technology company, announced today they raised a $10.5 million combination debt and equity financing round. The company’s existing investor, Safeguard Scientific, was joined by Pivotal Capital, a Silicon Valley venture debt company.
“Spongecell is at the forefront of the current digital advertising transformation to personalized marketing, and we are excited and grateful that a great new partner like Pivotal has come on board to help us achieve our goals,” said Ben Kartzman, Spongecell CEO in a statement.
Spongecell is an advertising technology company that turns ordinary, static ads, into dynamic and interactive ads capable of running anywhere. The company’s platform uses big data to help brands create more meaningful and tailored consumer engagements quickly.
The new funding will be used to speed up research and development for the company’s CORE platform, which allows buyers to log in and complete simple ad management tasks.
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