St. Louis social media startup Bonfyre closes $2.45 million funding round

Bonfyre, a St. Louis startup that makes an app for creating and managing social networks around events, has closed a $2.45 million funding round led by St. Louis-based venture capital firm Arsenal Capital Management.

The company plans to use the funds for user acquisition, product development and additional hiring.

Founded in 2012, Bonfyre has worked with companies including Express Scripts, Commerce Bank and Centene. The startup has raised $5 million to date.

Arsenal has invested in several St. Louis-area startups, including Juristat and Synek Draft System.

Read more: St. Louis Business Journal

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