Location-Based Marketer Placecast Adds $3 Million To Series B Funding

Foursquare Gowalla

Photo: Vicarious.ly

Placecast, a platform for location-based marketing, just announced that it has added $3 million to its recent series B funding, bringing the round to a total of $8 million.The funds come from existing investors Quatrex Capital, ONSET Ventures, and Voyager Capital, and will be used to expand the company’s network.

Placecast’s service pushes offers from participating brands to users who venture close enough to a relevant retail outlet. The company’s clients include The North Face, SONIC Drive-in, and American Eagle.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.