Zadspace, Inc., a cutting edge advertising software company, announced that it has closed financing and is relocating from California to Norwalk, Connecticut, which is a hub of the direct marketing community.
Zadspace's proprietary software-as-a-service (SaaS)-based platform will enable client advertisers to more effectively target qualified prospects in an exclusive and uncluttered environment. Zadspace’s retail partners earn revenue on each labeled package shipped.
Zadspace engaged Jeff Giordano as executive board member and interim CEO of the new Norwalk-based firm, who has successfully built several direct marketing service companies.
Connecticut Innovations (CI) was instrumental in attracting the company, leading the $3.2 million Series B round of venture investment and joined by Cava Capital, LaunchCapital, and David F. Zucker who joined the round along with existing investors Crosscut Ventures and The Gideon Hixon Fund.
Geoff Schneider, lead partner, Cava Capital, said, “Of all the advertising networks we’ve encountered … Zadspace represents the best combination of an exciting new medium with obvious advantages for the entire value chain in an era where postal rates are ever-increasing and ROI is paramount.”
Peter Longo, President and Executive Director of CI, said, “Zadspace’s clever approach dovetails dynamic targeting technology with a unique physical placement and delivery mechanism. The results to date have been extremely impressive … the company is an outstanding addition to Connecticut’s expanding community of high-tech ventures."
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