E-mail marketer StrongMail Systems—which earlier this month said it was buying social media marketing firm PopularMedia for an undisclosed sum—has raised $7.6 million in a round of funding, which it is likely using to purchase PopularMedia. An SEC filing Monday says that the funding is “being made in connection with a business combination transaction” and says it will be used as part of the “assumption of certain assets and certain liabilities.”
A StrongMail spokesman said the company would not comment. It’s possible that StrongMail Systems may have paid more than $7.6 million since the company had raised a total of $12 million in three rounds of funding.
With the new funds, StrongMail will now have raised more than $35 million. An SEC filing from March shows that the company raised $2 million in notes and warrants then, although it did not specify the uses for those funds.
By Joseph Tartakoff