Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

Share
March 25, 2011

Mobile Tag Group Raises $8.2 Million in Series B Financing



Through a recent press release, Mobile Tag, Inc., the Atlanta-based wholly owned US subsidiary of Mobile Tag Group, announced the securing of $8.2M in financing in a Series B investment by existing as well as new investors.  The existing investors included XAnge Private Equity, Alven Capital and IDF Capital. New investment was made by SEB Venture Capital, a part of the SEB Group and a North European financial group serving some 400,000 corporate customers and institutions and five million private individuals. According to Mobile Tag Group, the fund will help its strengthen its position in the mobile barcode industry.

Mobile Tag is a leading provider of marketing solutions for 2D, 1D and NFC and known for its embedded software application called, mobiletag. The application allows phones to read 2D barcodes, otherwise known as tags, simply by using the phone's camera. The application, according to its maker was developed to enable quick access to external content. Its solutions are adapted to businesses of all sizes, from top advertisers to independent retailers, Mobile Tag claimed.

In an effort to make Mobile Barcodes and NFC tagging as popular as text messaging, Mobile Tag also signed a partnership deal with America's largest Wireless Carrier. The partnership will help bring to the market mobiles equipped with Mobile Tag’s high-performance readers, either pre-loaded out of the box or downloaded through app stores. This will help open an immediate interaction between the brands and the consumers. As opposed to traditional advertising, it will help by-pass search engines and the competitive messages they display in the search results.

“Our partner has a unique position giving it a clear advantage to help brands connect to consumers in an easy and intuitive way. In my opinion, the partnership has "cracked the code" on how to connect businesses of all sizes DIRECTLY with consumers of all ages and tastes, using commonplace technology like barcodes or advanced technology like NFC tags combined with your ever-present cell phone,” Mobile Tag, Inc.'s CEO William Hoffman (News - Alert) expressed his hopes in the statement.




Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Jennifer Russell
Share



blog comments powered by Disqus