SOURCE: Blumberg Capital

Blumberg Capital

April 18, 2011 12:00 ET

Mobile Spinach Raises $1,000,000 in Venture Capital Funding

Company Positioned to Capitalize on Explosive Growth of Mobile Market With Funding From Blumberg Capital, Quest Ventures and Launch Capital

SAN FRANCISCO, CA--(Marketwire - Apr 18, 2011) - Mobile Spinach (http://www.mobilespinach.com/), a mobile local commerce platform, today announced that it has raised $1,000,000 in venture capital funding. Led by Blumberg Capital (http://www.blumbergcapital.com/), a global early stage venture capital firm, this new funding enables Mobile Spinach to capitalize on the explosive growth of mobile platforms and the mobile ecosystem. The funding round also included participation from venture capital firms Quest Ventures and Launch Capital.

Mobile Spinach is a mobile web-based platform embedded in third-party mobile smartphone apps and websites. The company allows users to purchase discounted offers in the form of Mobile Spinach "Bucks" that can be spent at their favorite local merchants, including restaurants, clothing stores and salons. Mobile Spinach now has exclusive relationships with thousands of merchants in 611 cities in the USA. Mobile Spinach's platform creates more long term favorable economics for local merchants than they typically receive from other deal platforms.

"With this funding, we look forward to continue growing and providing a platform which benefits our mobile partners, local merchants and their customers," said Antonio Vitti, co-founder and CEO of Mobile Spinach. "This investment allows us to take our business to the next level by providing consumers with a greater choice of products and services that they want from their favorite local merchants, and generating more sales and customers for merchants nationwide."

"With years of investment experience with mobile startups, we look forward to helping Mobile Spinach navigate the flourishing mobile, local marketing space," said Bruce Taragin, managing director of Blumberg Capital. "The mobile web is expected to be ten times larger than the desktop Internet. With the ability to do location-based targeting and provide specific local services on a mobile platform, Mobile Spinach has a strong offering to app publishers, local merchants and consumers."

Mobile Spinach has established relationships with many large providers of mobile publishers and applications including Loopt, with the ability to reach more than 10 million unique users. In addition, the company's API has already been integrated with several of its well-known partners.

About Mobile Spinach
Mobile Spinach is a platform that delivers exclusive discounts from local merchants to consumers on their mobile device. Mobile Spinach exposes local consumers to the best prices in their neighborhoods based on their interests and location. Merchants across the country can use the service as a unique way to market their business at a low cost and build relationships with consumers to keep them coming back. Mobile Spinach is headquartered in San Mateo, CA.

About Blumberg Capital
Blumberg Capital is an early-stage venture firm that works closely with innovative entrepreneurs to build exceptional companies. Our team has over a century of relevant experience collaborating with disruptive technology companies in Software, Digital and Social Media, Mobile and Consumer Internet. Our relevant operational expertise and focused network enables us to be bridge-builders, connecting entrepreneurs with key business, technology, and investment partners to drive success.

Blumberg Capital initially invests between $250K and $2.5M in Seed and Series A rounds and participates in follow-on rounds. Blumberg Capital is headquartered in San Francisco with team members located in New York and Israel.

Contact Information

  • Press Contacts
    Rob Adler
    Vantage Communications for Blumberg Capital
    +1 415-984-1970 x104
    Email Contact

    John Vitti
    Mobile Spinach
    888-649-2675
    Email Contact