Fisoc Closes its C Round of Funding for a Total of $5 Million

AUSTIN, Texas, Dec. 21, 2012 /PRNewswire/ -- fisoc, a company that provides the Buzz Points™ merchant-funded loyalty program that enables banks and credit unions to connect consumers and merchants through social media engagement and rewards, announced the company has closed its C Round of funding.

"We are pleased to announce that our company has just closed our C Round for a total of $5 million," said Jay Valanju, CEO of fisoc. "These additional funds will enable us to service our rapidly growing customer base and execute and support contracts with financial institutions (FIs) ranging from the Upper Midwest, Deep South, and Northeast, in addition to our first markets in Texas and Arkansas."

Lead investors in the completed $5 million C Round were Greycroft Partners, KEC Holdings, LLC and Metamorphic Ventures. Other investors included Austin-based Daylight Partners and local Angel Investors.

KEC Holdings, LLC

"Our firm was strongly attracted to fisoc due to their intellectual capital and the strength and experience of their management team," stated Jeffrey Citron, Managing Partner of KEC Holdings. "Their unique combination of banking expertise and social media software provide instant credibility with the management of the financial institutions that they are targeting as new customers."

Greycroft Partners

"As the lead investor in fisoc, we recognized the value of their financial services model that targets underserved community banks and credit unions," said Alan Patricof, Managing Director of Greycroft Partners. "Their theme of supporting local banks, credit unions and merchants with a loyalty and rewards program is so strongly resonating with their existing FI customers that a number of new fisoc clients are coming through referrals."

About fisoc and the Buzz Points Program

fisoc, Inc, was founded to develop and provide products that enable credit unions, independent and community banks to target consumers through social engagement and rewards programs. fisoc, Inc. helps financial institutions increase transactions, improve account balances, and grow loan demand as they attract new customers. The Buzz Points Merchants Program increases existing consumer loyalty and attracts new customers to participating local retailers. Investors include Greycroft Partners, KEC Holdings, Metamorphic Ventures, Daylight Partners and Angel Investors. For more information, please visit: www.buzzbanking.com.

Buzz Points is a trademark of fisoc, Inc. Other trademarks mentioned are the property of their respective owners.

Media Contact:    
Tom Price    
Bernard Group Communications    
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SOURCE fisoc, Inc.