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Jun Group Secures $2.5 Million From Western Technology Investment (WTI)Financing Will Accelerate Growth and Enhance Jun Group's Leadership Position in the Quickly-Expanding Social Video Marketplace (December 13, 2011)
NEW YORK, NY -- (Marketwire) -- 12/13/11 -- Jun Group (www.jungroup.com), the premier social video platform, today announced that it has secured $2.5 million in financing from Western Technology Investment (WTI) (www.westerntech.com). Jun Group joins WTI's portfolio of social Internet companies, including Kosmix, myYearbook, Plaxo, StumbleUpon, Ustream, Youku, and, most notably, Facebook.
"Since we founded Jun Group in 2005, we have grown the company into a leader in one of digital advertising's hottest areas -- online video -- and pioneered the new category of social video," said Mitchell Reichgut, founder and CEO of Jun Group. "The opportunity to change online video advertising from the interruptive model of yesterday by putting people in control is significant and partnering with WTI will enable us to drive the category of social video forward."
The financing from WTI provides Jun Group with the capital to accelerate its strong growth in the social video space. Today, the Jun Group social video platform delivers millions of monthly opt-in video views across social networks, mobile devices, and YouTube. Jun Group has tripled its revenue since 2009 by working with a roster of Fortune 500 brands, major entertainment companies, and media and creative agencies.
"Online video advertising is a significant and rapidly growing opportunity, but, most importantly, it is ripe for innovation," said Dan Holman, investment partner at WTI. "Jun Group is a clear leader in the space. They've set the standard for opt-in, performance-based video, and our partnership delivers the financing to aggressively capitalize on this opportunity."
Jun Group will put the financing from WTI to work by continuing to build its sales, business development, and client services team, which tripled in 2011. The company will also aggressively advance its industry leading distribution and analytics technology.
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 is the premier social video platform. The company's distribution technology delivers millions of monthly opt-in video views across social networks, mobile devices, premium content sites, and YouTube. Jun Group distributes videos from 15 seconds to 3 minutes-long with exceptionally high completion rates and significant post-view activity, such as web site visits, coupon downloads, and store locator usage. The company's analytics dashboard, Voyeur, provides real time data about views, shares, likes, tweets, ratings, comments, and geographic dispersal down to the state and town. Founded in 2005, Jun Group's clients include Fortune 500 brands, major entertainment companies, and media and creative agencies. For more information, visit www.jungroup.com.
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