Punchbowl® Secures $ 5.0 Million in New Funding to Fuel Growth Strategy
FRAMINGHAM, Mass .– (COMMERCIAL THREAD) – Punchbowl® (www.punchbowl.com), the company behind the critically-acclaimed technology platform for meaningful events, vacations, and life memories, today announced $ 5.0 million in funding from SG Credit Partners, Inc.
The funding was used to acquire VidHug, Inc., a premier group video platform, and to make strategic investments in mobile apps for new parents. With the acquisition of VidHug, the company welcomes innovative technology for asynchronous video, a passionate user base that has grown exponentially over the past year and a new team based in Ontario, Canada.
“These strategic investments are a watershed moment for our company,” said Matt Douglas, CEO of Punchbowl. “We look forward to the next stage of our growth as we continue our mission of developing technology for families at their most important milestones. ”
Punchbowl has also invested in two New England-based apps for new parents: Qeepsake, the world’s first text-based parenting journal, and pumpspotting, a community platform to support breastfeeding and infant feeding. Punchbowl CEO Matt Douglas has been appointed observer to the Qeepsake board and director of the pumpspotting board.
“We are delighted to partner with Punchbowl to fuel the next chapter of their strategy,” said Christopher Koenig, Managing Director of SG Credit Partners. “The management team have proven that they know how to use capital effectively, and we look forward to seeing how they execute the next phase of their vision. ”
In a separate release, Punchbowl also today announced the launch of Memento, a new platform for recording, creating and preserving memories of the most important days in a family’s life.
About Punchbowl, Inc.
Punchbowl is the company behind the critically acclaimed technology platform for meaningful celebrations, holidays, and life memories. The Company operates its platform on Punchbowl.com, Memento.com, and the best iOS and Android apps. Over 200 million online invitations and digital greeting cards have been sent on Punchbowl, and over 5 million memories have been shared on Memento. The company was founded by entrepreneur Matt Douglas and is located in Framingham, MA. To learn more, visit https://www.punchbowl.com/company.
About SG Credit Partners, Inc.
SG Credit Partners is a family office backed lender providing situational capital to lower middle market businesses and entrepreneurs requiring tailored solutions and certainty of closing. We have built an extensive lending platform to meet the capital needs that traditional banks, non-bank lenders, single-product lenders and larger funds cannot due to regulatory constraints, timing, funding or size.
Efficient in its processes, thoughtful in its approach and determined to establish solid and lasting relationships, our success is measured over the long term by gaining the confidence of entrepreneurs and their advisers who come to us when needed.
Based in Southern California with offices nationwide, SG Credit Partners has provided more than $ 350 million to lower middle market entrepreneurs in various industries.