Software maker Joust attracts new equity financing

Jul 3, 2014
Austin Business Journal

Joust Inc., a social competition software maker, reported receiving $1.2 million of a planned $2 million financing


The Austin-based company collected the capital from 20 investors, according to a Wednesday filing with the U.S. Securities and Exchange Commission


Joust, which launched last year, develops what the company calls “the first ever real-time platform for social competition.”


The software is designed to enable brands to get in the middle of the online competitions and challenges to introduce brand messaging, special offers, trivia, contest and special points based incentive programs that can be redeemed through loyalty programs with sponsoring partners, according to the company


CEO Tim Gray was previously the CEO of Austin-based Velocity Electronics Inc. He was also the managing director and co-head of New Ventures at the California-based Idealab, and the CEO of WeddingChannel, according to his online profile


Last year, Joust reported receiving $734,998 of a planned $1 million financing from 13 investors


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