MILWAUKEE, Aug. 16, 2018 /PRNewswire/ -- Socialeads,
Inc., a Milwaukee based AI &
machine learning technology startup, has closed a round of seed
funding for $750,000. Funding was led
by The Winnebago Seed Fund with additional investment coming from
Northwestern Mutual's Cream City Venture Capital and the BrightStar
Wisconsin Foundation. The participation from Cream City Venture
Capital expands its stake in Socialeads who won Northwestern
Mutual's Reverse Pitch last fall. The financing will be used to
expand Socialeads' resourcing needs to launch initial pilots for
Northwestern Mutual's financial advisors.
Socialeads' AI platform is enabling financial services companies
and their advisors to know the size, depth, and value of their
professional and personal social networks. Socialeads' advanced
machine learning and natural language processing technology
provides insights derived from social media. These real-time
insights help advisors to better serve their clients.
"It's exciting to be joined by our new partners building
Socialeads and helping our customers and their clients on their
journeys of financial planning and securing their families'
futures. The Winnebago Seed Fund and their commitment to growing
advanced technology companies make them a perfect partner," said
Larry Hitchcock, CEO of Socialeads.
"We're also excited to have continued support from Cream City
Venture Capital and the amazing people at Northwestern Mutual who
have been instrumental in collaborating with us to bring the vision
of Socialeads to reality."
"I'm excited to work with Larry and his talented team," said
David Trotter, Managing Director at
The Winnebago Seed Fund. "Socialeads is a great example of what is
possible when different groups work together to solve challenging
problems."
"Socialeads is building a unique solution which will allow our
advisors to deliver financial security to more clients," said
Craig Schedler, Venture Partner at
Northwestern Mutual. "It's a privilege to partner with a team
building a technology company in Milwaukee that is solving a large problem
sales professionals in many industries face."
Socialeads is the third startup to be funded by the Winnebago
Seed Fund and largest investment to date, whose goal is to invest
in Wisconsin entrepreneurs and
grow startups throughout the state. The seed investment in
Socialeads will advance the company's technology and reach – truly
a positive sign of support for entrepreneurial growth within the
region.
About the Winnebago Seed Fund
The Winnebago Seed Fund
was established in 2016 by David
Trotter in collaboration with local business leaders. The
Winnebago Seed Fund anchor investor is the Badger Fund of Funds I,
LP. The Badger Fund was formed in 2015 to invest in Wisconsin-based venture capital funds. In
2016, the Badger Fund announced a four-million-dollar investment commitment to the
Winnebago Seed Fund.
www.winnebagoseedfund.com
About Cream City Venture Capital
Cream City Venture
Capital, sponsored by Northwestern Mutual, is a venture capital
fund working to build technology-based businesses in greater
Milwaukee. The fund looks to partner with companies that are
leveraging technology to address problems in large markets
regardless of industry. For more information please visit
www.creamcityvc.com.
About BrightStar Foundation is a 501(c)(3) non-profit
foundation created to facilitate job creation and increase
Wisconsin's economic activity by deploying donated funds into
equity stakes in for-profit early-stage, rapid-growth companies.
This unique approach enables the formation of new investment
capital in Wisconsin through charitable donations to the
foundation. For more information, please visit
www.brightstarwi.org.
About Socialeads, Inc.
Socialeads, Inc. was founded in
2018 by Larry Hitchcock and
Matthew Salzer and is headquartered
in Milwaukee. The startup's unique
AI and Machine Learning platform is geared to support the financial
services arena, starting with life insurance (a $1T industry).
Their technology will enable companies to leverage proprietary
enterprise sales and marketing data to gain insights from their
social networks. Ultimately, this will increase quality growth in
lead generation, network connections, and trusted advisor
relationships.
Socialeads continues to gain positive industry acceptance and
partnership momentum which kicked off last fall when they won the
Northwestern Mutual Reverse Pitch.
To learn more, visit www.socialeads.com.
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SOURCE Socialeads, Inc.