Nanigans Raises $5.8 Million

Facebook ad partner Nanigans on Tuesday announced closing $5.8 million new funding from Avalon Ventures in Cambridge, Mass. Nanigans said it would use the financing to build out its mobile offerings and expand operations.

 

The company last year was named as one of a dozen “strategic” partners in Facebook’s Preferred Marketing Developer program, which includes hundreds of agencies and developers. Through its social marketing platform, Nanigans says it manages millions in annual ad spend across 200 advertisers.

 

With the funding, the firm plans to ramp up its efforts in mobile, which now accounts for about a third of its revenues. It will also continue hiring in areas including product development, engineering and customer service at its offices in Boston, New York, San Francisco and London.

 

With its prior funding of $3.1 million in 2011, the company has grown from 15 to 100 employees and seen a six-fold growth in revenue, thanks in no small part to Facebook’s increase in ad revenue in the last two years.

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