Investors Put Dollars in ShopSavvy, Kickanotch

Gail Chiasson, North American Editor

ShopSavvy, a Dallas-based mobile shopping assistant, has raised $7 million in initial funding led by Eduardo Saverin, Facebook co-founder and private investor, who joins the company’s board of directors.

With its new funds, ShopSavvy plans to open a new office in San Francisco, as well as expand the company’s engineering team.

Since launching in 2008, ShopSavvy has attracted more than 10 million current unique users and reports over 40,000 partnerships with retailers, including Walmart, Target, Best Buy, Sears, Nordstrom and Barnes & Noble. Among its corporate customers are: Best Buy, Consumer Reports, HP, Kellogg, Microsoft, New York Times, Nokia, Panasonic, Readers Digest, and Visa.

Also gaining funds is Kickanotch Mobile, a mobile media application, marketing and ad network company, which gained a $1.1 million investment led by 42 Ventures, with participation from additional unnamed strategic media and technology investors.

The company, based in Prairie Village, Kansas, plans to use the funds to expand its sales, marketing and engineering team, and to accelerate the development of its mobile platform.

Kickanotch’s main product, its REVKick platform, is designed to help clients better manage ad campaigns, track user data and manage mobile content. The company offers custom applications for all major devices and a Web-based mobile app control panel offering real-time analytics, content management and a mobile ad delivery solution.

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