Jun Group Secures An Additional $2.5 Million in Venture Debt From Western Technology Investment (WTI)
NEW YORK, Jan. 15, 2014 /PRNewswire/ -- Jun Group (http://www.jungroup.com) announced today that it has secured an additional round of $2.5 million in venture debt financing from Western Technology Investment (WTI) (www.westerntech.com).
This is WTI's second investment in Jun Group, following an initial round of venture debt financing of $2.5 million in 2011, bringing WTI's total commitment to Jun Group to $5 million.
"Jun Group is the poster child for growing a company organically," said David Wanek, investment partner at WTI. "Since our initial investment, Jun Group has proven that they have the ability to anticipate industry trends and offer solutions that meet the needs of a rapidly expanding market."
Since the initial round of funding from WTI, Jun Group has tripled in size, driven 100% growth and consistently maintained healthy profit margins. The company recently added a traffic-driving solution, Overdrive, to an already successful digital video platform. The new offerings expanded Jun Group's portfolio of Fortune 500 clients and added new sources of revenue.
"WTI has been the ideal partner. They understand the challenges we face, and they see the same opportunities we do in mobile, video and audience building for major brands and entertainment companies," said Mitchell Reichgut, founder and CEO of Jun Group. "WTI is filling a huge void for businesses like ours that want to rapidly expand and still remain independent."
Jun Group will use the funding from WTI to further build its sales, production and technical teams, as well as enhance its technology platform and R&D efforts.
About Western Technology Investment (WTI)
For more than 30 years, WTI has provided financing facilities to high-growth public and private companies, including 3Par Data, Brocade, Cerent, Facebook, Google, IDEC Pharmaceuticals, IronPort, Juniper Networks, Postini, Transmeta and Youku.
About Jun Group
Jun Group gets millions of people to see branded content. The company delivers 100% brand-safe video views and traffic to any Web page, promotion, social media, or mobile site. All activity comes from premium native placements that reach over 100 million monthly active users.
"Jun" means truth. The company's founding principle is clarity and honesty and they back this with the Jun Group Promise: always 100% visible, 100% opt-in and 100% brand-safe or they'll refund the entire price of the campaign.
SOURCE Jun Group