NORWALK, CONN. — Zadspace Inc. announced today that it has closed a $3.2 million Series B round of venture investment led by Connecticut Innovations and DFJ Frontier. New investors Cava Capital, LaunchCapital, and David F. Zucker joined the round along with existing investors Crosscut Ventures and The Gideon Hixon Fund. In connection with the financing, Zucker and Pauline Murphy of Connecticut Innovations joined the company’s board of directors. Zadspace has raised over $6 million to date.
Zadspace’s proprietary software-as-a-service (SaaS)-based platform enables retailers to deliver highly targeted advertisements on 4” x 6” color labels affixed to packages shipped to consumers.
The company’s platform enables advertisers to more effectively target qualified prospects in an exclusive and uncluttered environment. Zadspace’s retail partners earn revenue on each labeled package shipped.
Zadspace will primarily use the new funding to grow its distribution network and to increase its client base of advertisers.
The company also announced today that it has engaged Jeff Giordano as executive board member and interim CEO. Giordano previously served as chairman of the Electronic Retailing Association and has successfully built and sold several direct marketing service companies.
Finally, Zadspace announced today that it has relocated its corporate headquarters from California to Norwalk, Connecticut, a hub of the direct marketing community. Connecticut Innovations was instrumental in attracting the company to the area.
“Advertising is rapidly shifting toward highly personalized, time-sensitive, and relevant placements,” said Peter Longo, president and executive director, Connecticut Innovations. “Zadspace’s clever approach dovetails dynamic targeting technology with a unique physical placement and delivery mechanism. The results to date have been extremely impressive, and we are thrilled to support the company.”
Longo added, “We are delighted that Zadspace chose to relocate to Connecticut. The company is an outstanding addition to Connecticut’s expanding community of high-tech ventures.”
“Today’s advertisers are looking for cost-effective, measurable media to deliver personalized messages to consumers,” said Geoff Schneider, lead partner, Cava Capital. “Of all the advertising networks we’ve encountered over the past few years, Zadspace represents the best combination of an exciting new medium with obvious advantages for the entire value chain in an era where postal rates are ever-increasing and ROI is paramount.”
“I’m most excited by Zadspace’s ability to grow into a unique, targeted and, most importantly, responsive new media channel. The ability to ultimately deliver 80 million household impressions annually will make Zadspace invaluable for any multi-channel marketer,” said Giordano.