Shoutlet, a company that connects brands with social media, has raised a $2 million first round. The round was co-led by Origin Ventures and Leo Capital Holdings. This funding follows a $1.2 million seed round raised in 2007. The funding will help Shoutlet broaden its distribution abilities for itself and its parent, Middleton, Wisconsin-based Sway Inc. In addition to expanding its marketing abilities across online video, widgets, text messaging and podcasts, Shoutlet hopes to add more staff and build up its sales team.
The financing also comes a year-and-a-half after Sway rejected the $30 million acquisition offer from online video site CornerWorld. The deal fell apart because CornerWorld was unable to secure the necessary funding to complete the acquisition, Sway CEO Jason Weaver said in a statement at the time. There are more details about Shoutlet’s funding in a Sway blog post. Release