New York – Buddy Media, a provider of social media software
for marketers, announced on Friday that it has raised $5 million in new
financing from ad giant WPP (NASD: WPPGY).
The investment comes as part of a partnership that
WPP says will improve the process by which its clients that want to engage
audiences on Facebook can do so via the Buddy Media Platform.
New York-based
Buddy Media said the new funds will be accounted for as an add-on to its
recently announced $23 million, third round of funding, from investors
including Bay Partners, Greycroft Partners, Institutional Venture Partners and
Softbank Capital.
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