SaaS firm Heyo closes Series A round with $2M
Software-as-a-service firm Heyo completed its Series A round with $2 million, a statement about the funding said.
The funding round for the Blacksburg, Virginia-based company that operates under Lujure Media Inc, came from Valleys' Ventures LP. Proceeds from the round will be used by Heyo to add more developers to the team so that the company can hasten its product development efforts and grow its user base, the statement said.
Heyo Founder and Chief Executive Officer Nathan Latka said in a statement, "We will continue to obsess over building the most valuable social media marketing tool for small businesses and are focused on achieving this goal. We're excited to grow our team and will be aggressively hiring the sharpest engineering and marketing minds we can find to prepare for a new product release later this year - one that we think will really excite people."
Using Heyo's streamlined interface, clients are able to map out social media campaigns that have already been tested before and are capable of providing high conversion rates. In the end, Heyo intends to link users to their current and future customers so that the brands are able to offer even more of their products and services through social media platforms, the statement said.
As a result of the success it is helping businesses attain, more clients were added to its platform last month compared to those that had signed up to use it in the entire fourth quarter of 2013. As more users get on board Heyo, the better it is able to serve each individual client because it can recommend the best campaign efforts to others, the statement said.
One of the satisfied users is Mixed Bag Designs. Marketing Manager Amy Lombard said in a statement, "We are extremely pleased with the results and look forward to selling more bags and engaging with even more customers using Heyo."