Reach7 has closed a second 2014 fundraising deal as it continues to produce new additions for its technology platform.
Founded at the beginning of the year by Jamie Learmonth and Anton Ygartua, Reach7 is being backed by a group of investors led by Jamie True and containing Jon Claydon and Jack Bekhor.
A month into operation, Reach7’s platform allows users to post to social media in more than 30 languages via what it calls ‘business level human translation’. Social destinations such as Twitter and Sina Weibo are supported.
The $400,000 now banked will be spent on completing the development of new beta services, which Reach7 predicts will be realised in the coming months.
New investor True was part of the team that founded Grapple Mobile, a mobile innovation agency that was old to Monitise in September 2013. Other backers at Reach7 included Boxlight Media, which provided the investment needed to fund the establishment of the business.
More on recent seed funding rounds:
- SwiftKey and Skimlinks execs back Ometria
- Dial-a-Phone founder joins Roamer investment deal
- Seed round for business call app VENNCOMM
Speaking to GrowthBusiness, Reach7 co-founder Anton Ygartua, says, ‘The Reach7 platform has just gone live but already we have already generated interest from agencies and some large brands that are currently trialling Reach7 on various accounts.
‘We have an exciting roadmap ahead and the latest round of funding will allow us to bring various unique tools to our platform that help companies to expand their global reach and grow engagement in new markets.’
Ygartua believes that the company’s investors bring a ‘wealth of experience and guidance’ with strong commercial and marketing backgrounds having all founded and run successful ventures in the past.