NEWS20 August 2018

Socialeads raises $750k

Finance Financials New business News North America

US – Milwaukee-based AI and machine learning tech start-up Socialeads has closed a round of seed funding for $750,000.

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Socialeads’ AI platform gives financial services companies and their advisors insight and data on the size, depth, and value of their professional and personal social networks.

Funding was led by The Winnebago Seed Fund with additional investment coming from Northwestern Mutual’s Cream City Venture Capital and the BrightStar Wisconsin Foundation.

The financing will be used to expand Socialeads’ resourcing to help launch initial pilots for Northwestern Mutual’s financial advisers.

Larry Hitchcock, CEO of Socialeads, said: "It’s exciting to be joined by our new partners building Socialeads and helping our customers and their clients on their journeys of financial planning and securing their families’ futures. The Winnebago Seed Fund and their commitment to growing advanced technology companies make them a perfect partner." 

Socialeads is the third start-up to be funded by the Winnebago Seed Fund and largest investment to date, whose goal is to invest in Wisconsin entrepreneurs and grow start-ups throughout the state.

Socialeads was founded in 2018 by Larry Hitchcock and Matthew Salzer.