Receive the latest articles for free. Click here to get the Mobile Commerce Daily newsletters.

Modiv Media wins $8M in funding

August 18, 2009

modivModiv Media, a retail and mobile media delivery firm, won $8 million in extra funding.

The funding came from current investors Ignition Partners, Oak Investment Partners and SeaPoint Ventures.

“It’s all about expanding our footprint in terms of growing our overall business,” said Bob Wesley, CEO of Modiv Media.

The news comes a day after mobile ad network Ad Infuse announced a $12 million investment in the company from venture capital firms.

Modiv Media will use the financing to improve technology, expand its retail business, boost professional services and hire more senior staff. The Modiv MediaHub analytics engine and campaign management tool will get more attention, too.

The Boston company already hired Nick Vadala as chief financial officer. He has worked at companies such as JLS/Direct Response Solutions, Winterberry Group, CPS Direct, National Leisure Group and Rapp Collins Worldwide.

Also, Mikle Surilov has been promoted to vice president of engineering.

Modiv Media was formed in March with the merger of Mobile Lime, a mobile loyalty firm, and in-store self-service service provider Cuesol.

Share on FacebookShare on LinkedInShare on Twitter

Mickey Alam Khan is editor in chief of Mobile Commerce Daily, Mobile Marketer and Luxury Daily. Reach him at

Like this article? Sign up for a free subscription to Mobile Commerce Daily's must-read newsletters. Click here!

Related content: Stop & Shop uses Motorola, Modiv Media for mobile shopping, Pizza Hut aims for slice of mobile market, Starwood Hotels goes mobile, Home shopping giant QVC goes mobile, Retailers at NRF show: wait-and-see on mobile,

Tags: , , , ,

You can leave a response, or trackback from your own site.

Leave a Reply