Fast-growing Magnet 360 raises more equity



By Neal St. Anthony, Star Tribune

Magnet 360, the fast-growing marketer, has raised $1.6 million in additional equity from existing investors to support a growth surge, bringing the total investment to about $5 million.

The four-year-old company, with about 40 clients including Häagen-Dazs, Digi, Allianz North America, 3M and Cargill, employs 85 people in Minneapolis and New York, where it opened an office in 2011.

It expects to open offices in San Francisco and Chicago this year.  In an interview, managing partner Scott Litman said the client list is expanding, the partnership with is working, and that the firm expects to grow from about $17 million in revenue in 2012 to $25 million this year.”

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