Mobile focused digital marketing platform OtherLevels has confirmed that it has secured additional venture funding of AUS $3.2 million (€2.1 million).
Updating the market, OtherLevels management detailed that the funding had been gained through a placement by institutional investors.
The investment will see OtherLevels issue 22.9 million shares at a price of AUS $0.09 for each share placement.
On receiving its new investment OtherLevels management stated that the funds would be used to bolster the company’s commercial activities and further strengthen its sales operations, with a focus on growing its ‘partner program’
Brendan O’Kane, chief executive and managing director of OtherLevels, said: “The placement is a vote of confidence in OtherLevels from the institutional and sophisticated investor community.
“We look forward to using the funds raised to continue to support OtherLevels’ growth and expansion.”