Indianapolis-based Viral Launch Inc., a marketing tech firm that helps clients launch products and grow sales on Amazon.com, announced Monday that it has raised $7.3 million in venture capital.
The Series A round was led by New York City-based Tenfore Holdings, with contributions from existing investors Mentor’s Fund of Redwood City, California, and McLean, Virginia-based UpOver Ventures. Series A financing typically refers to the first significant round of growth funding for a business after it receives seed funding.
Viral Launch founder and CEO Casey Gauss said the capital would help the company strengthen its technology and workforce. Tenfore Holdings Managing Director Dan Levine will join Viral Launch’s board of directors as part of the investment deal.
Founded in October 2014 and based at 429 N. Pennsylvania St., Viral Launch was named “Scale-Up of the Year” this month at TechPoint’s annual Mira Awards. Gauss received the “Rising Entrepreneur” award.
In August 2017, the company announced plans to spend $2.2 million to double the size of its office space to 10,000 square feet and expand employment. The firm said it would grow its staff from 10 to 260 by the end of 2021.
The Indiana Economic Development Corp. offered the company up to $2.5 million in conditional tax credits and $200,000 in training grants based on the job commitments.
The company had 66 employees at the end of 2018.
Viral Launch said its subscription-based software as a service has helped drive more than $8 billion in sales on Amazon for its clients.
“Viral Launch's products have created a unique opportunity for helping businesses of all sizes navigate the Amazon marketplace and ad platform,” Tenfore's Levine said in written comments about the investment.