Location data startup Reveal Mobile in Raleigh lands patent, $2M in new fundingDate Published:
RALEIGH – Reveal Mobile, a Raleigh-based mobile marketing startup at the forefront of location data technology, has scored two victories.
It has secured US patent for its technology that determines the quality score of a mobile device – plus an additional $2 million in funding.
The applications, said its CEO and founder CEO Brian Handly, are limitless: from allowing public agencies more effectively predict and mitigate the spread of infectious diseases, such as COVID-19, to helping advertisers better price location data offerings based on higher device quality scores.
“Whether you’re an advertiser, a researcher or a scientist, data quality determines the quality of your work,” he said.
“With this new advancement, we’re helping the advertising industry increase its confidence in targeting ads based upon the location of mobile devices.”
Handly added that the company is working with companies and organizations where we can provide value in the crisis.
“We’re providing data wherever it can be used to shed light on how the virus spreads and how it can be slowed. It’s important to note that device owners’ data is kept anonymous,” he said.
Reveal Mobile’s patent describes a method and system for scoring the reliability of a mobile device. The quality score is assigned based on the reliability and accuracy of its location data.
Put more simply: Reveal Mobile helps marketers and advertisers use location data to understand and reach audiences based on places they go.
“We provide foot traffic analytics, location-based audiences and attribution reports to advertisers who want to target audiences based on places they shop, dine, visit and play,” Handly explained.
“During the coronavirus pandemic, advertisers have been increasing their investment in audience targeting to ensure they’re reaching the right people and getting the right messages to them.
“More than 90 percent of consumers want brands to continue to advertise during the crisis. Those ad dollars are being efficiently and effectively spent via campaigns fueled by location data.
“We’re solving the right problem in downturns and in boom times.”
$2 MILLION IN FUNDING, NEW CTO
Reveal Mobile has also closed on a new round of funding.
The company said it follows record growth in 2019 and a strong start to 2020, even amidst the COVID-19 outbreak.
The Series A includes investors from Alerion Ventures, Bull City Venture Partners , IDEA Fund Partners, VentureSouth and Charleston Angel Partners among others.
Handly said the new funding will go towards research and development and sales “to stay ahead of market requirements and the rising demand for location-based marketing software. “
In addition, the company has also appointed Jason Crocker to chief technology officer. He has served as the company’s vice president of technology since June 2018,
“Jason is a key player in helping Reveal Mobile grow efficiently,” said Handly. “His technical leadership is fundamental to our ability to deliver innovative products to a dynamic and demanding market.”
Reveal Mobile is based on Hillsborough Street, just west of the NC State campus. It currently has 27 employees.
“We just added five people to the Reveal Mobile team, three in engineering and two in sales,” a spokesperson said. “All of the positions we’ve recently had open have now been filled.”
Original Article Source: WRAL TechWire