dunnhumby Ventures Invests in iBeacon Specialist

dunnhumby Ventures has participated in a $1.2m seed investment in Dublin-based mobile marketing specialist Pulsate, which uses iBeacon technology to send customers messages and promotions relevant to their current location.

Using Pulsate's platform, retailers can identify relevant in-app behaviour, and then segment, automate and personalize communications sent to customers at the most appropriate place and time. App users are encouraged to reply, forming a direct dialogue between the brand and the customer.

Pulsate's new funding has been led by Delta Partners Bank of Ireland. In addition to dunnhumby Ventures, which was set up in 2013 by retail analytics giant dunnhumby to invest in retail technology firms, the round also included Enterprise Ireland and PayPal.

Patrick Leddy (pictured), Pulsate founder and CEO, explains: 'We will use the funds to accelerate the development of our product and to increase our business in the US. We are already attracting a lot of customers in this space and with this support we look forward to becoming the industry leader in context marketing.'

Web site: www.pulsatehq.com .