Cardagin Networks Raises $1 Million in Series A Financing
Charlottesville, VA— March 1, 2010—Cardagin Networks, Inc. (www.cardagin.com), the developer of a leading proprietary mobile marketing platform, announced today that it has raised a round of Series A financing from private investors and angels in Charlottesville, VA, Washington, DC, Atlanta, GA, and Nashville, TN, totaling $1 million.  Further details about the investors of the Series A round were not disclosed.

“This round of funding places Cardagin in a strong financial position,” said Cardagin CEO Rob C. Masri.  “Our company is built on meeting the needs and demands of a two-sided market.  Businesses and consumers will benefit from our platform and we are delighted that investors have validated our technology and vision.”

Cardagin’s mobile platform digitizes the loyalty card programs of local businesses and gives those businesses tools to create, publish and push mobile advertisements directly to members of their loyalty programs. Consumers are able to conveniently manage their loyalty cards directly from their mobile phones, as well as track visits and redeem coupons and promotions from the local businesses that they support.  Cardagin expects to launch its platform in Charlottesville, VA this spring.

About Cardagin Networks

Cardagin offers businesses a unique and novel way to cost-effectively and more intelligently improve advertising by digitizing paper and plastic loyalty card programs. Cardagin was selected as an AlphaPitch company for DEMOfall09 and also selected as a presenting company at Capital Call 2010. More information can be found at http://www.cardagin.com.