iBeacon based Roximity receives $1.52M in Partial Close funding

logo-roximity-final-cs3Roximity recently received $1.52M in partial close funding, bringing them to $2.14M in total funding to date. See the SEC filing. Roximity is a Denver startup best known for their mobile app that presents real-time deals. While there has already been a lot of buzz around their app in cars, Roximity is starting to roll out a new iBeacon product that enables merchants to send targeted messages to potential customers via mobile as the customers pass by their stores.

If you don’t know what iBeacon is, it’s worth taking moment to go over this potentially ground breaking step forward in location-based technology created by — you guessed it — Apple. As a new protocol in iOS 7, iBeacon allows a developer to harness the latest Bluetooth Low Energy (BLE) technology and enable micro-trigger events in their apps. Essentially, it enables any device with the latest bluetooth technology to transmit or receive messages based on proximity. There have been a few articles that explore iBeacon at greater length (Apple InsiderForbes, Wired), but it’s apparent that the new technology opens up a lot of location-based advertising opportunities.

While iBeacon is technically a new piece of available code, Roximity is one of the handful of companies that is starting to create low-cost gadgets that specifically execute the iBeacon technology and continually beam out a Bluetooth signal, sort of like WiFi. The company claims that these small, wireless devices can be placed anywhere to deliver personalized messages to target customers through an app, SMS, MMS or feature-phone messaging. The device is able to customize the message to particular users based on the mobile data received.

While it’s unclear if the new Roximity messages push only to people that have the Roximity deals app, the hyper-targeting possibilities will be enticing to many merchants and brands looking to increase local foot traffic and sales. Furthermore, with recent growth projections in mobile usage, Roximity presents a new opportunity to advertisers looking to expand their mobile spend.

Watch the video below for a demonstration of the new Roximity beacon:

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