Funding from SG Credit Partners fuels acquisition and new investments
Punchbowl® (www.punchbowl.com), the Company behind the critically acclaimed technology platform for events, holidays, and meaningful life memories, today announced $5.0MM in financing from SG Credit Partners, Inc.
The financing was used to acquire VidHug, Inc.—a best-in-class 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, Punchbowl. “We look forward to the next stage of our growth as we continue our mission to develop technology for families for their most important milestones.”
Punchbowl has also made investments in two New England based apps for new parents: Qeepsake, the world’s first text message-based parenting journal, and pumpspotting, a community-driven breastfeeding and baby feeding support platform. Punchbowl CEO Matt Douglas has been appointed a Board Observer at Qeepsake and a Board Director at pumpspotting.
“We are excited to partner with Punchbowl to fuel the next chapter in their strategy,” said Christopher Koenig, Managing Director, SG Credit Partners. “The executive team has proven that they know how to employ capital efficiently, and we look forward to seeing how they execute the next phase of their vision.”
In a separate release, today Punchbowl also announced the launch of Memento—a new platform to record, make, and preserve memories from the most important days in a family’s life.
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