Location Data Firm Unacast Raises $5m

Beacon technology and proximity data provider Unacast has raised $5m in a Series A round of financing, which will be used to grow the company globally.

Oslo, Norway-based Unacast provides retailers and brands with access to its 1.4 million beacons and proximity data from over 50 ad platform partners including Oracle, MediaMath and Lotame. Using this network, clients are able to retarget customers online based on their behavior in the real world.

The firm's new funding has been led by Open Ocean Capital, and venture capital firm Investinor; with participation from NYC adtech veterans Jonah Goodhart of Right Media and Michael Barrett; former CEO of Millennial Media; Jason Kelly, former President of Millennial Media and CRO of Admeld; and Bill Wise, former President of Right Media, and now the CEO of MediaOcean.

Unicast CEO and co-founder Thomas Walle (pictured) comments: 'Our goal is to connect all sensors in the world to one platform, and it was important for us to work with investors with industry knowledge and substantial lifting power. This new round enables us to radically accelerate our growth worldwide and scale Unacast's platform to power the demand from the major global marketing platforms'.

Web site: www.unacast.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.