Swirl Closes Strategic $8M Financing Round led by Hearst Ventures
Swirl Brings the Power of Mobile Marketing to Major Retail Stores, Transforming the Way People Shop
October 08, 2013
“We invested in Swirl because the company is a leader and innovator in mobile marketing and retail engagement, which is the last frontier in influencing buying behavior,” said Scott English, managing director, Hearst Ventures. “Many of our advertisers and partners are looking for new and effective ways to deliver personalized messages to consumers at the moment of purchase and nobody does that better than Swirl.”
Swirl leverages indoor micro-location targeting to deliver highly relevant messages, content and offers to consumers while they shop. First generation mobile phone location technology relies on GPS tracking, which drains battery, provides limited precision and does not work indoors. New indoor positioning technology (powered by Bluetooth® Low Energy and supported by all major smartphone manufacturers) makes it possible to pinpoint a shopper’s precise location within a store, for example, the baby aisle or electronics department, in real time. By combining micro-location sensing with any retailer’s mobile app, Swirl’s platform makes it possible to deliver personalized and contextual offers, recommendations and content to shoppers’ smartphones while they browse specific areas within a store.
“Hearst is an important partner in pursuing this massive market opportunity,” said Hilmi Ozguc, founder and CEO of Swirl. “Major retailers are looking for a comprehensive omnichannel strategy that brings the immense benefits of online marketing and e-commerce to their retail store sales efforts. The retailers that can seamlessly couple mobile consumer behavior with in-store marketing technology will be the winners. Swirl offers the first and only fully integrated, enterprise-grade platform to provide the intelligence, micro-location targeting and campaign management necessary to handle even the largest retailers’ in-store mobile marketing needs.”
Swirl is an in-store mobile marketing platform provider that is helping retailers leverage the power of mobile to attract and influence consumers while they shop in retail stores. Top retailers such as Timberland, Kenneth Cole, and Alex and Ani use Swirl’s patent-pending micro-location technology to increase their store traffic, customer engagement and sales conversions. The company is led by an accomplished entrepreneurial team and backed by top-tier investors including Hearst Ventures, SoftBank Capital, Longworth Venture Partners and General Catalyst Partners. Learn more at swirl.com.
About Hearst Ventures
Hearst Ventures makes strategic investments in companies operating at the intersection of media and technology. Starting with its investment in Netscape in 1995, Hearst Ventures has grown to become one of the most active and successful corporate venture funds. Notable investments include Pandora, Brightcove, XM Satellite Radio, Eink, Sling Media, Exodus, Broadcast.com, Hootsuite, IGG and Buzzfeed. Hearst Ventures (hearstventures.com) is a unit of Hearst Corporation, one of the nation’s largest diversified media and information companies.