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Nightlife Vanguard Poggled.com Raises a Toast to $5.6M Funding Round With New Enterprise AssociatesPoggled Creates New Model for Always Deals Targeted at Nightlife (April 11, 2011)
CHICAGO, IL -- (Marketwire) -- 04/11/11 -- Poggled.com, the social commerce service for nightlife, today announced it had secured $5.6M in funding led by New Enterprise Associates. This Series B funding will support the company's continued growth and market-by-market rollout in the coming weeks and months. Poggled's Series A was led by Lightbank.
Headquartered in Chicago, Poggled's free service offers exclusive, discounted drink deals and party packages for use at bars and nightclubs. Users access deals online, anytime, at www.Poggled.com and by using the company's mobile iPhone app. The company will imminently announce an Android app. Local bars can sustain consistent, long-term business through Poggled's many deal structures.
In addition, Poggled measures the results of its marketing initiatives with brands, offering valuable and often unique insight into various consumer audiences.
"Poggled's intelligent business model brings a new approach to a traditional value network," said Tom Grossi, Principal of New Enterprise Associates (NEA). "We are excited to be working with Poggled, which offers a remarkable opportunity for business owners to interact with their customers in a fresh new way."
Launched in June 2010, Poggled.com is the fastest growing nightlife website in the United States while operating only in Chicago. Additional markets will be announced in the coming weeks.
"Poggled's compelling business model will change how consumers and business owners approach nightlife," said Joe Matthews, co-founder of Poggled.com. "This investment from NEA shows great support and validation for our business and enables us to accelerate toward our main objective: To establish and cultivate the social commerce category for nightlife, for customers, business owners and partners."
Poggled has partnered with many Chicago bars and clubs to offer customers unique savings and social opportunities. Its interface is simple. After filtering personal preferences including neighborhood, day of the week, deal category (e.g. nightclub, live music, sports viewing), and bar name, users are given a special code they redeem onsite. They can also post deals to their friends through Facebook and Twitter, furthering the social experience and organically expanding Poggled's reach.
Launched in June 2010, Poggled is a Chicago, IL-based social commerce service backed by NEA and Lightbank. It is a free service that offers exclusive discounted drink deals and party packages to users. For more information, visit www.poggled.com.
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