Cardagin® Networks, Inc. Earns $4.25M Backing in Fundraising Round

CHARLOTTESVILLE, Va., July 20, 2011 /PRNewswire/ -- First-to-market mobile platform, Cardagin® Networks, Inc., announced today a significant "Series Boom" investment round.  Private investors and angels from New York, Tennessee, Georgia, Texas and Virginia invested $4.25M in a round the company will use to accelerate product development and fuel market expansion.

Unlike daily deals sites that provide limited value to local businesses and no loyalty among local customers, Cardagin shines with technology designed to help local business stay in business.  

"Cardagin's new technology is an example of the innovation needed to jump-start the economy, while providing a shot in the arm to local businesses looking for ways to keep their doors open and remain competitive," said Charlottesville Mayor Dave Norris.  "And it's clear by this recent round of financing, and overwhelming support by the business community and their consumers that Cardagin is a winner."

Through Cardagin's proprietary technology, businesses have access to a self-service advertising platform and analytic data that allows them to make smarter and better personal marketing decisions based on customer purchasing history.  Cardagin also eliminates the worries related to "check-in" fraud or over-rewarding one-time visitors interested in only a massively discounted daily deal.  Consumers using Cardagin benefit by receiving offers and specials tailored to their personal preferences and earn personalized rewards for patronizing their favorite local establishments.      

"Local business owners are craving a tool that will allow them to capture, understand and monetize the loyalty of their customers.  Cardagin enables them to identify their best customers and harness their buying power," said Rob C. Masri, Founder and CEO of Cardagin.  "As evidenced by the demand in this over-subscribed round of financing, our investors understand how Cardagin can impact the local business community and, with these funds, Cardagin will be able to expand to more than 90 cities this summer."

After successfully completing a pilot of the savings and loyalty mobile app, Cardagin launched in January 2011 in Charlottesville, Va. to rave reviews from the city's local business community and consumers alike.  With more than 500 businesses and thousands of consumers using its technology, Cardagin will roll out its platform and mobile apps to more than 90 cities coast-to-coast this summer.  

About Cardagin® Networks, Inc.

Cardagin is the mobile loyalty and advertising solution focused on local businesses and their long-term customers. With Cardagin, businesses have a better way to advertise and consumers can easily track loyalty, redeem rewards, and get discounts at their favorite local businesses.

For more information, visit www.Cardagin.com.

CONTACT:  Danielle Hagen, +1-202-365-6112

SOURCE Cardagin(R) Networks, Inc.