JOINGO Announces Completion of Financing Round and Conclusion of Strategic Review
LAS VEGAS, NV AND SAN JOSE, CA (PRWEB) OCTOBER 02, 2017
JOINGO®, the leading provider of mobile loyalty and engagement solutions for the casino gaming industry, today announced the closing of a financing round resulting from the completion of a comprehensive review of strategic alternatives over the past few months. This financing secures the Company’s long-term growth plans. In addition, Joingo announced promotions within its executive management team.
JOINGO investors, enjoying confidence bolstered by the strategic review and changes within the executive management team, have completed a Series D financing round to fund further growth. The funds will be utilized to expand the Company’s sales team, customer support and implementation capabilities and continue to provide cutting edge mobile loyalty products for the gaming industry.
JOINGO also announced the promotion of Michael McManus from Chief Financial Officer to Chief Executive Officer; Kirk Olson from Vice President of Sales to Chief Operating Officer; Founder Steve Boyle was named as Chief Technology Officer, Vice Chairman and head of the Intellectual Property Committee of the Board, and Founder Alex Kanwetz has assumed the Vice Chairmanship of the Board of Directors.
Mr. McManus will lead the Company’s efforts to facilitate the growth and the expansion of the Company’s product offerings. Mr. Olson will continue to lead the Company’s sales efforts, which have resulted in the addition of more than 50 new casino customers over the past twelve months. In addition, Mr. Olson will take over responsibilities for operations including product implementation and customer support.
Mr. McManus brings over thirty years of executive and financial management expertise to Joingo, having served as the Company’s Chief Financial Officer since 2010. Mr. McManus has extensive experience in guiding companies through the growth phase and building the appropriate organizations to meet the needs of an expanding customer base. Mr. Olson brings his extensive experience to lead the effort of expanding JOINGO sales and operations teams.
JOINGO has experienced tremendous growth over the past two years, increasing from fewer than 20 casino customers in 2015 to more than 70 in late 2017. The award-winning mobile engagement platform from JOINGO is on the cutting edge of loyalty, location-based and mobile marketing, all of which are enjoying an increased focus in the industry.
“At JOINGO, we pride ourselves on being nimble and responsive to the needs of the market and our customers,” said Michael McManus, CEO. “We are at an exciting time with mobile technology increasingly in demand within the casino gaming industry, and with these changes we look to be in an excellent position to drive even more growth. I believe we have a stellar team in place and we will continue to exceed the expectations of our current and future customers. I look forward to leading the company into 2018 and beyond.”
“JOINGO has experienced significant growth over the past two years, and we are poised to remain the leader in mobile loyalty solutions for the gaming industry moving forward. With other software vendors interfacing their products with the Joingo Mobile Platform, we are seeing continued adoption and growth.“ said Kirk Olson, COO.
JOINGO is a leading-edge mobile technology company based in San Jose, CA and Las Vegas. JOINGO’s patented technology targets players’ smartphones and tablets using the latest in mobile applications, location-based marketing, gamification and more. JOINGO allows casino brands to reach mobile users with highly personalized and interactive mobile marketing campaigns that drive increased reach, loyalty, and revenue. For more, visit http://www.joingo.com.
Director of Partnership Development