Local Tech Wire

RALEIGH, N.C. – Four-year-old startup , which focuses on software as a service technology targeting marketing campaigns, has closed on $500,000 in venture funding.

, which is based in the Triangle, provided the funding.

The venture firm’s Jason Caplain joins the Zift board as part of the investment.

Ken Romley, Zift’s chief executive officer, was formerly a top executive at SmartPath, an enterprise marketing management solution firms that was acquired by DoubleClick.

Zift said the new funding would be used for expansion of product development and sales.

The startup could add another $1 million in more funding, Romley told Private Equity Hub. He also said the investment “should take [Zift] to profitability sometime next year,” PE Hub added. At that point, Zift might look to raise between $5 million and $7 million.

Southern Capitol, which focuses on early-stage investments, has made six deals in the SaaS space.

“We are thrilled to be working with Southern Capitol Ventures,” Romley said in a statement. “We have known SCV and the entrepreneurs they have backed for several years and they are extremely well-connected.”

Zift’s technology enables customers to package multi-channel marketing, including online advertising, search engine optimization, e-mail marketing, and more. According to the company, its technology can reduce marketing costs by half while driving up revenues. It has customers across the world.

“We look forward to working with the seasoned management team at Zift Solutions,” Caplain said. “As a repeat team, their technology and operational expertise has helped them scale the company quickly and surge ahead of their competitors.”

Capitol Broadcasting, the parent company of LTW, is an investor in Southern Capitol.

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