Wednesday, June 6, 2012

Fisoc Lands Funding For BuzzBanking

Austin-based fisoc, a startup using big data techniques to help run social engagement and rewards programs for local banks and credit unions, said today that it has received its first institutional investment from Greycroft Partners. Size of the round was not announced, however, fisoc said it has now raised over $5M in funding. The firm said the round also included Daylight Partners and unnamed angel investors. fisoc runs BuzzBanking, an online service which drives Facebook and Twitter activity by rewarding points to customers for those social media activities. fisoc is headed by Jay Valanju. Valanju was co-founder of FundsXpress (acquired by First Data), and also was at Plunk before it was acquired by Demand Media. The firm's other co-founders all are previously from FundsXpress.