Unacast Raises $1.6M

To further grow the company in line with the fast growing proximity industry, we are today announcing a seed raise of $1.6m

April 27, 2015

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Only seven months ago, we founded Unacast to help retailers and brands retarget their own customer online based on accurate offline behavior from proximity technologies like beacons, NFC and WiFi. Bridging the gap between offline and online have by many marketers globally been called the “holy grail of marketing”, and by the use of proximity technology and Unacast, this linkage is now possible at a scalable and commercially viable level. Proximity companies can now connect to Unacast PROX Network and add offline-to-online features to their product offering.

Today I feel a great deal of pride towards the Unacast team, who in these last seven months built the world´s largest network of proximity data, the Unacast PROX Network. PROX is already connected to proximity solution providers on all continents, representing more than 100,000 beacons.

To further grow the company in line with the fast growing proximity industry, we are today announcing a seed raise of $1.6m. Bringing competence, domain expertise and a global footprint into the company, in addition to capital, has been an important requirement when selecting investors from the oversubscribed seed round. Some of the investors we are pleased to announce today are:

Blystad Invest, a substantial investor in one of the largest Bluetooth/beacon chipmakers in the world; Nordic Semiconductor.Ice Leopard Invest, Swedish and US based investor network with extensive media and adtech expertise, occupying management positions in Europe and the US.Haavard Nord and Eirik Chambe-Eng, founders of Trolltech, which they took global from a startup to IPO and sold to Nokia in 2008.New Mark Invest, with Harald Aksnes Lervik, the founder of Nordic Bet, which he exited in 2012 to Betsson.

We are now ramping up the development team in Oslo to support the rapid growth of Unacast PROX and to leverage the potential of proximity data through upcoming brand campaigns with some of the bigger media domains and ad platforms globally. In addition, we are expanding our physical presence by setting up offices in both New York and London to be closer to the proximity and online advertising markets.

The proximity industry, although growing fast, is still a young industry, and the full potential of its applications are not yet explored. At Unacast we believe the network of proximity data to be the catalyst of this potential – and we are now even better prepared and strengthened to embark on the mission to connect all proximity data to a shared backend.

In the coming weeks we will share more details on what we are planning for the future, and you can also take a look at the article covering the news in Venturebeat today.