Business news from the Ascentive team
On Monday Daily Deals for Moms, a social couponing website for moms and families looking for and sharing deals with a commitment to support small business and keep retail dollars in the community announced it has secured a round of angel funding. The group of investors includes Victor Lazzaro, Jr. of Denver based Volante Capital, LLC. The company will keep the financing open to strategic investors, but intends to close the round within the next few weeks. The infusion of capital will fuel growth, further build infrastructure, and continue to drive awareness of the site as it expands into more cities.
“The experience and insight our investors bring will contribute to the next phase of our development,” said Ashley E. Kingsley, co-founder and CEO of Daily Deals for Moms. “This funding validates our vision of supporting small businesses and specifically serving the needs of families in the communities we support. It also allows us the means to build the necessary infrastructure to grow and expand.”
“The growing popularity of social couponing combined with more than three trillion in spending by Moms, makes Daily Deals for Moms an obvious value proposition,” said Vic Lazzaro, managing director of Volante Capital, LLC. “I am pleased to support Daily Deals for Moms and am confident the company’s management team is properly focused and well positioned for continued expansion and leadership in the social couponing arena.”
Launched in 2010 by “Mompreneurs” Ashley E. Kingsley and Whitney Trujillo, Daily Deals for Moms say they stand apart from other daily deal sites by supporting smaller local businesses and mom and pop shops, with a commitment to keeping capital local. Daily Deals for Moms primarily serves secondary markets such as Denver, Toledo, and Des Moines. The site has successfully gained traction among the price conscious Mom community. Daily Deals for Moms is specifically focused on products and services Moms and families want, without the added hassle. In addition, it has a very loyal following from the merchant community, much owed to the fact that it was the first to put a cap on deals. This infusion of capital will support the next phase of growth and innovation as the site rolls out to 15 new cities this year.
In conjunction with the financing, Daily Deals for Moms has added Vic Lazzaro to its Board of Directors. Lazzaro is a managing director with Volante Capital, LLC, a private equity firm with headquarters in Denver, Colo. Within the private equity portfolios, Lazzaro currently serves as CEO of BridgeHealth Medical, Inc., and is a senior advisor of Signum US Healthcare. In addition he is an advisor to and a guest lecturer at the University of Colorado at Denver’s MBA in Health Administration program.