Milyoni Bags $3 Million to Enable Commerce on Facebook

Milyoni has raised $3 million to help brands build storefronts on Facebook to sell products and monetize fan pages.

Investors in the Pleasanton, Calif.-based company include ATA Ventures and Thomvest Ventures.

Milyoni said the funds will be used for marketing and business development to pursue categories, such as entertainment, sports, consumer electronics and other retail sectors. Today, Milyoni is used by more than 50 brands, including Warner Brothers, the NBA, the Miami Heat and Oklahoma University.

Social commerce is considered an emerging area similar to mobile commerce; however, it’s been unclear so far how exactly brands and companies will leverage the Facebook platform.

Other companies in the space that are building third-party platforms for retailers include Payvment and Adgregate Markets.