With aggressive growth in crosshairs, Zave Networks raises $10.6 million
Announcing a notable addition to our "Kansas City companies we'll keep a closer eye on" file: Zave Networks, which recently raised $10.6 million, according to an SEC Form D filing on Aug. 9. Zave Networks, founded in 2006 and based in Kansas City, Kan., is a digital promotions and information management company that links online
Zave Networks, which is based in Kansas City, Kan., and created the digital coupon platform Zavers, recently raised $10.6 million. Screenshot from zavers.com
Zave Networks, founded in 2006 and based in Kansas City, Kan., is a digital promotions and information management company that links online and mobile advertising with in-store purchases in real time. Zavers’ executive team includes George Hansen (CEO), Brian Brinkley (CTO) and Holly Valenta (CFO).
Via email yesterday, Bruce Pryor, vice president of marketing for Zave Networks, declined to comment on the recent round of funding.
But from the Facebook page for Zavers, which is Zave Networks’ initial application, we were able to get up to speed on the company’s funding history. Zavers was launched, per its Facebook page, with a plan to “digitize … one of the last analog markets.” Zavers started as a prototype product to digitize grocery coupons, backed by seed money from Kansas City’s October Capital, a family investment vehicle for Ron LeMay (left, photo from openairep.com) and Lance LeMay. Ron, also the managing director at OPENAIR Equity Partners, was employee No. 1 and CEO of Sprint PCS and served as COO and president of the Sprint Corporation from 1996-2003.
Zavers’ Facebook page lists three rounds of funding — the 2006 seed round, plus one round apiece in 2007 and 2008 — but does not quantify the investments made at those times.
According the Zave Networks website, Zavers this year is more than doubling in size and expanding into more than 1,500 stores across the country.
With its aggressive growth projections, its recent infusion of capital and the backing of high-profile players in the mobile space, Zavers appears poised to make some noise. And, starting now, we’ll keep an ear to the ground listening for it.
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