Verizon Investments Leads Funding Round for MobileRQ
Funding accelerates growth for increasing demand of MobileRQ's real-time mobile platform for travel brands.
PORTLAND, Oregon, September 10, 2013-- MobileRQ today announced it completed its initial funding round led by Verizon Investments LLC, the strategic venture capital arm of Verizon Communications, Inc. The round, totaling $800,000, was recently completed with funds going to completion and launch of the MobileRQ Traveler Platform and initial customer capture.
MobileRQ’s cloud-based platform enables travel and hospitality brands to supercharge the travel experience by delivering timely, highly relevant, and actionable content to customers’ mobile devices. With this investment, MobileRQ has built the first real-time platform that combines contextual information (proximity, time of day, and unplanned events) with CRM data (loyalty status, demographics, and intent), as well as 3rd party data (Data Management Platforms, flight status, and weather) to generate highly targeted mobile content and messages for travelers at the moment of impact.
“We’re extremely pleased to add our investment in MobileRQ to our portfolio,” said Mark Smith, Executive Director at Verizon.
MobileRQ’s Traveler Platform allows brands to drive engagement at the moment of impact. For example, airlines can offer specific passengers seat upgrades just as they are approaching the airport, based on availability and sliding departure time windows. Airlines can also offer hotel partner deals at the moment of a flight disruption. Hotels can heighten the guest experience by connecting with the guests in a relevant way as they are on their way to the property.
MobileRQ lets marketers segment relevant audiences, create campaigns with point-and-click simplicity and use real-time analytics to see how customers are reacting to each message. Making changes to campaigns is just as easy.
“We’re very gratified by the confidence that Verizon Investments has shown in our technology. With the entry of this platform into the market and our initial customer traction, we are already showing how travel brands can get instant ROI,” said Tyler McKinley, co-founder and CEO of MobileRQ. “The hospitality industry, perhaps more than any other, understands the need to reach customers with content and offers at the point where they are mostly likely to make a decision. With our platform, hospitality and travel brands can fine-tune offers so that they’re not just making more money, but delighting their customers in the process.”
Based in Portland, Oregon, MobileRQ develops solutions that use big data to enable brands to better engage with customers on their mobile devices. By integrating contextual and CRM information, the company’s Traveler platform is the first to give travel and hospitality marketers the power to create precisely targeted mobile offers and content and deliver them at the moment when they are most likely to be successful. For more information please visit MobileRQ at http://www.mobilerq.com.
About Verizon Investments
Verizon Investments LLC, a subsidiary of Verizon Communications Inc. (NYSE, Nasdaq: VZ), invests in promising entrepreneurial companies. Verizon’s venture capital portfolio focuses on new products, technologies, applications, and services that complement Verizon’s networks, service platforms, and distribution channels. For more information, see http://verizon.com/ventures.
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