StrongMail Raises $7.6 Million—Likely In Order To Fund Purchase Of PopularMedia
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E-mail marketer StrongMail Systems—which earlier this month said it was buying social media marketing firm PopularMedia for an undisclosed sum—has raised $7.6 million in a round of funding, which it is likely using to purchase PopularMedia. An SEC filing Monday says that the funding is “being made in connection with a business combination transaction” and says it will be used as part of the “assumption of certain assets and certain liabilities.”
A StrongMail spokesman said the company would not comment. It’s possible that StrongMail Systems may have paid more than $7.6 million since the company had raised a total of $12 million in three rounds of funding.
SEE ALSO: Online Marketers Join Up: StrongMail Buys PopularMedia
With the new funds, StrongMail will now have raised more than $35 million. An SEC filing from March shows that the company raised $2 million in notes and warrants then, although it did not specify the uses for those funds.
Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Venture Capital, Social Media, Technologies / Formats, E-Mail
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