Framingham tech Punchbowl funds acquisition with $5M in new financing
Courtesy | Punchbowl
Framingham technology platform Punchbowl has funded an acquisition with $5 million in financing from SG Credit Partners, Inc.
The company used the financing to buy Canada-based VidHug, Inc. — a group video platform — and to make strategic investments in mobile apps for new parents, according to a release from Punchbowl. The acquisition gives the company access to technology for asynchronous video as well as a new team in Ontario, Canada.
Punchbowl’s additional investments are in two New England based apps for new parents: Qeepsake, a text message-based parenting journal, and pumpspotting, a breastfeeding and baby feeding support platform. Punchbowl CEO Matt Douglas has been appointed a board observer at Qeepsake and a board director at pumpspotting.
The financial details of the acquisition and investments were not disclosed.
SG Credit Partners is a family-office backed lender headquartered in California.
WBJ Web Partners
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