Enplug Nabs $2.5 Million in Seed FundingMonday, April 21, 2014
Social media display maker Enplug has received $2.5 million in seed funding from a slew of venture capital funds and private investors.
Partners in the round include Oaktree Capital co-founder Larry Keele, Juniper Networks founding member Rasoul Oskouy, Idealab founder Bill Gross, former AT&T President Hossein Eslambolchi, Interscope Records Executive Vice President David Cohen, Lightspeed Venture Partners Managing Director Justin Caldbeck, Atom Factory Chief Executive Troy Carter, Activision co-founder Howard Marks, DominateFund, zPark Venture and Amidi Group.
The 2-year-old Culver City startup sells its digital displays to retail businesses such as restaurants, bars and shopping malls. The product shows its clients real-time social media interactions on Twitter, Facebook, Yelp, Foursquare and Instagram. Businesses can opt for an ad-supported display or buy the enterprise device, which shows no ads.
Enplug had 100 clients, including Coffee Bean & Tea Leaf, AM/PM and Beverly Hills Porsche, on its books before the seed round closed.
“Every client also has access to Enplug’s online analytics platform, enabling them to track and measure the impact of their social display,” co-founder Nanxi Liu said in a statement.
Enplug’s other co-founders include Alex Ross, Zach Spitulski, David Zhu and Navdeep Reddy.