Cloud4Wi’s US$11.5 Million Series B Financing Co-Led by Opus CapitalOctober 02, 2017
FOR IMMEDIATE RELEASE
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The following release was issued by Cloud4Wi:
Cloud4Wi Secures $11.5 Million Series B Led by Opus Capital and United Ventures
Company will ramp Volare, its AI-driven, location analytics and marketing platform that enables brick-and-mortar businesses to understand and engage mobile users
SAN FRANCISCO – October 2, 2017 – Cloud4Wi, a leader in the location analytics and marketing platform industry, announced the close of a $11.5 million Series B financing round, bringing the total investment in the company to $15.5 million. The round was co-led by Opus Capital and United Ventures. Gill Cogan, general partner at Opus Capital, has joined Cloud4Wi’s Board of Directors. With this new funding, Cloud4Wi will invest in product development, boost its sales and marketing efforts, further develop its global channel partner network, and expand its machine learning expertise.
“Businesses are seeking ways to better understand and engage their on-premise customers and to grow their revenue. Volare leverages their existing wireless networks and provides immediate results,” said Andrea Calcagno, CEO and co-founder of Cloud4Wi. “This capital will enable us to accelerate our expansion and to continue our machine learning investment to build the value of our solution.”
The Prada Group now uses Volare in about 500 stores worldwide. The platform provides Prada with the foundation to build a comprehensive customer view and personalization of each in-store experience with both digital and human touch.
Volare is also used by leading companies such as Adecco, Bulgari, Burger King, Clarks, Gruppo FS Italiane, Liverpool, the Moscow City Government, Olive Garden, and VTB24.
“Cloud4Wi addresses one of the biggest issues currently facing businesses; by combining the best of the online and offline shopping experiences,” said Gill Cogan, general partner at Opus Capital. “With the Volare platform, strong customer adoption, and a clear strategic vision, Cloud4Wi is uniquely positioned to lead this rapidly emerging market. We are excited to continue to back the team as they scale and bring new capabilities to the world’s top brands.”
Cloud4Wi was recently identified as a representative vendor in the first Gartner “Market Guide for Indoor Location Application Platforms” report (1).
Cloud4Wi offers Volare, a location analytics and marketing platform designed for understanding and engaging mobile users. With Volare, clients can leverage existing wireless networks to build their business. Volare is distributed through channel partners and connects more than 65 million mobile users across 15,000 locations in more than 80 countries. Customers include Adecco, Bulgari, Burger King, Clarks, Gruppo FS Italiane, Liverpool, the Moscow City Government, Olive Garden, and VTB24. The company is based in San Francisco, and has offices in New York, Dallas, London, Paris, Milan, Pisa, Rome, and Manila.
To learn more about Cloud4Wi and its products, please visit the website here.
(1) Gartner, Inc. “Market Guide for Indoor Location Application Platforms” by Annette Zimmermann, Tim Zimmerman, 21 August 2017.
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To learn more, visit Gartner’s website here: https://www.gartner.com/doc/3788563/market-guide-indoor-location-application
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