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Square 1 Bank Provides $15 Million to Spruce Media

November 19, 2012, 08:13 AM
Related: Square 1 Bank

Spruce Media, a provider of enterprise-class marketing solutions for Facebook ads, announced it has secured $15 million in debt financing from Square 1 Bank. Spruce Media continues to grow its market share by helping the most successful advertisers, agencies, and trading desks on Facebook drive consumers from likes to influence.

Spruce Media will use the financing to accelerate sales growth and further scale its technology development team. Additionally, Spruce plans to expand into additional U.S. cities, invest in its technology build out, and provide additional infrastructure for both its managed service and self-service business units.

Recently named one of 12 Facebook Strategic Preferred Marketing Developers, Spruce Media has pushed over 300-billion impressions through its software and is the technology of choice for the largest advertisers on Facebook. Founded in 2010, Spruce has developed a robust solution integrating ad creation, bid management, analytics, and reporting into one easy to use, yet powerful interface, which can be licensed or coupled with managed services. Spruce Media is based in San Francisco and has sales offices in Los Angeles, Dallas, Chicago, Minneapolis, Washington D.C., and New York.

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