By Sahil Patel
Boston-based “viral video marketing” firm ViralGains has raised $2.8 million of a planned $3.3 million round of funding. The funding was led by Hub Angels, with additional participation from 45 different investors, including 500 Startups’ Dave McClure and rapper Nasir “Nas” Jones.
The company says the funding will go toward opening offices in new markets, particularly Southern California, New York, and Chicago, in an effort to grow the demand and supply sides of its business.
“This round is going to allow ViralGains to scale up our advertising technology platform to bring on more advertisers who can buy video ad placements from us, and more publishers who can create revenue from those ad placements,” said ViralGains CEO Jay Singh.
ViralGains operates a video ad exchange called Praxis, which looks to help clients place their video content within relevant websites, social games, social networks, and mobile platforms. To date, the company says it has worked with numerous top brands like Exxon, Nestle, Showtime, Lexus, and State Farm, as well as an array of YouTube stars.