Denver startup Choozle
announced that it closed a $4.1 million Series A round of financing with Great Oaks Venture Capital and other investors. The financing will allow the company to continue to support its growth streak.
Since launching out of beta last March with about 20 test users, including Dick's Sporting Goods and Merriam-Webster, the company has attracted more than 100 clients. Today it counts among its clients Cricket Wireless, Gaiam, SendGrid, Willow Tree and more.
The company's programmatic advertising platform and tools have resonated with businesses, according to Choozle co-founder and CEO Andrew Fischer. In all, 95 percent of Choozle's customers have retained its services, which start at $199 a month.
Fischer credits his team with building the highly retained services. "Combining data with real time advertising has really helped us in the marketplace," he says. The team also is working to integrate all the social media platforms into its services.
"Part of our market position is about simplicity. As the ad tech industry has grown, it's grown in complexity," Fischer says. Some of Choozle's clients are just entering into the programmatic ad space, however, and don't need overly complex services.
The downtown Denver-based company doubled its staff over the past year to 16 people, Fischer says. "We'll probably double again by the end of the year based on our trajectory," he asserts.
The majority of new hires will be in Denver, which is forcing the young company to move to new a spot downtown, but the company already has employees in New York and San Francisco, with plans to expand internationally.
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