Proximity mobile beacon platform Swirl Networks, has raised $18m in equity with contributions from Twitter Ventures, Hearst Ventures, SoftBank Capital, and other investors.
Swirl’s series C round brings its total funding to $32m to date with the capital set to be invested in sales, marketing operations and refinement of its beacon-powered indoor advertising technology.
Using the platform, retailers, brand advertisers and publishers can deliver programmatic content to nearby consumers on their mobiles.
Hilmi Ozguc, founder and chief executive of Swirl, said: “The caliber of strategic investors and partners in this round validates the immense potential that proximity-based indoor mobile marketing has to transform the advertising and retail landscapes.
“Swirl is helping leading retailers, publishers and brand advertisers bridge the physical and digital worlds in a way that was never before possible. This new investment gives us unmatched resources to accelerate our efforts and extend our leadership position in this exciting space.”
Ron Fisher, managing partner of SoftBank Capital, added: “With the most sophisticated platform, strong retailer adoption and clear strategic vision, Swirl is uniquely positioned to lead this rapidly emerging market.
“We are excited to continue to back the Swirl team as they bring this powerful new capability to the world’s top retailers and brands.”
Retailers using Swirl technology include Lord & Taylor, Hudson’s Bay, Urban Outfitters, Marriott, Alex and Ani, and Timberland.