Verve, the location-driven mobile advertising company, is acquiring beacons start-up Roximity, for an undisclosed sum. The acquisition follows a $30m debt financing round led by long-standing Verve partner Silicon Valley Bank. According to Verve, some of this funding is being used for Roximity.
Roximity places beacons in retail locations to deliver personalised content to consumers
Verve offers software and analytics to over 25,000 mobile websites and apps and sells ads for over 40,000 publishers. In addition, the company collects first-party location data across 30m devices and uses this data to target mobile adverts more precisely.
With the acquisition of Roximity, it hopes to tap into beacon data from 35,000 store locations to prove to marketers whether their campaigns are actually driving store visits. Indeed, Verve will gain access to data from over 50m mobile devices.
Beacon technology has been expanding over the last few years. Now, retailers are slowly but surely beginning to see the benefits. For example, US chain store Walgreens has installed an average three beacons per store to send offers and coupons to customers who have its phone app.
At the same time, beacons track when consumers enter a store or in which aisle they are standing. The technology offers anonymity, because it doesn’t tell marketers who a person is.
Tom Kenney, Chief Innovation Officer and Co-Founder, Verve, says:
“GPS is good. But it is sometimes not great. The best and most accurate data comes from beacons.”
For brands, instant coupons that pop up on a mobile device when a consumer passes their store are a big deal.
Verve can also tap into Roximity’s beacons network by targeting consumers when they haven’t yet made up their mind about which product to purchase or what movie to see.
According to the Wall Street Journal, Verve will be starting an initiative to provide better mobile-appropriate advertising units, including ads that can be saved to a user’s phone.