Placecast, creator of a location-based marketing platform used in the US by brands such as The North Face, SONIC Drive-in and American Eagle to send out offer messages – or ShopAlerts – to consumers’ mobiles, has raised $3 million in Series B funding from current investors, Quatrex Capital, ONSET Ventures and Voyager Capital, to expand its ShopAlerts location-based marketing service.
ShopAlerts (as reported here earlier this month by Mobile Retailing) delivers location-triggered mobile messages when consumers enter ‘geo-fences’ that can be created around any physical location. With substantial interest from retailers and large companies in the carrier, handset and digital media industries, Placecast will use the funding – which adds to the $5 million raised in November of 2009 – to continue to rollout its service to a larger network of retailers.
Its been a good few months for the company, with ShopAlerts also taking home the top prize given out by the National Retail Federation known as the 2010 RACIE Award, as well as being finalist for best mobile marketing technology at the wireless industry’s GSMA and CTIA E-Tech Awards.
