Retail mobile marketing company, Fidzup, has just raised $3.7m led by venture capitalists Cap Horn, Turenne Capital and its shareholders to bolster its US expansion.
Fidzup raises $3.7m for US expansion plans
Launched in 2011 by Olivier Magnan-Saurin and Anh-Vu Nguyen, the company provides mobile marketing solutions in France and across Europe. It focuses on digital advertising solutions for in-store alternatives to eCommerce firms who rely on Cost-per-click models by enticing consumers to return to stores and offering retailers an opportunity to communicate more effectively with their audiences.
The way it works is simple. THe firm connects Mobile Programmatic Advertising to retail stores and collects billions of touch points from mobile apps. These allow Fidzup to create SmartData and target mobile users, prospective and competitors’ clients by shop, demographics or purchase intention.
Fidbox, a small wifi box, identifies a mobile user in-store, just like an internet cookie, and helps track them throughout the store using GPS. The box then analyses the success rate and ROI of performance mobile ad campaigns against the consumer behavior in-store. This could allow for very accurate analytics.
In terms of pricing, the company offers a cost-per-visit service.
Olivier Magnan-Saurin, CEO, Fidzup, says:
“The US is clearly a massive market opportunity and we are confident that we can offer a differentiated proposition for retailers. Our technology lets retail managers generate data out of their stores and commit to serious investment in mobile performance advertising using our ROI-centric platform. This will change their stores into data generators, while also boosting footfall.”
Fidzup has been profitable for quite a while now and works with global brands including Ford, KFC, Timberland, Mercedes, BMW among others.