{"id":660934,"date":"2013-05-29T17:31:37","date_gmt":"2013-05-29T21:31:37","guid":{"rendered":"http:\/\/www.pehub.com\/?p=250508"},"modified":"2013-05-29T17:31:37","modified_gmt":"2013-05-29T21:31:37","slug":"solomo-tech-raises-1-7-mln","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/660934","title":{"rendered":"SOLOMO Tech Raises $1.7 Mln"},"content":{"rendered":"

SOLOMO Technology<\/strong> said Wednesday it completed a Series A first close worth $1.7 million. The round was co-led by Venture Management<\/strong>, and Don Layden, and included participation by Wisconsin Investment Partners<\/strong>. SOLOMO said the equity investment leveraged additional funding from the Wisconsin Economic Development Corp.<\/strong><\/p>\n

PRESS RELEASE<\/p>\n

Madison, Wisconsin, May 29, 2013 \u2013 SOLOMO Technology, Inc., is releasing its patent-pending SOLOMO Exchange\u2122 web services platform globally following its latest financing round. The company has completed a Series A first close worth $1.7M. The financing will be used to accelerate its product development and increase its sales and marketing activities. The round was co-led by Venture Management, LLC and Don Layden, and included participation by Wisconsin Investment Partners. The equity investment leveraged additional funding from the Wisconsin Economic Development Corporation.
\nThe company\u2019s unique SOLOMO Exchange\u2122 platform is the only solution on the market today that enables retailers to conduct personalized and localized omni-channel marketing while strengthening customer trust. The platform connects to retailers\u2019 branded mobile applications to support the seamless, trusted exchange of individual customer data in return for value. Retailers can offer products, services, special offers, or leverage their existing loyalty program to trade virtual currency, in exchange for customer data. Customers own the data they store on the platform and can update or revoke it, putting them in control of their personal information.
\nSOLOMO Geo\u2122, one of the SOLOMO Exchange\u2122 services, provides retailers with WiFi-based anonymous indoor location analytics and an array of opt-in localized customer engagement capabilities. This allows retailers to engage customers in their stores and better understand customer behavior. Critical to customer trust, SOLOMO treats consumer location information as securely and privately as any other personal information. SOLOMO is currently working with companies across many categories, including specialty retail, convenience, malls and airlines.<\/p>\n

The company is led by CEO Liz Eversoll, a veteran of CDW and other leading IT companies. Armed with her in-depth IT knowledge and vision for permissioned data exchange, she launched SOLOMO in 2011. The management team is rounded out with members who have deep executive experience from Microsoft, CDW, Lands\u2019 End and Weather Central.
\n\u201cTrust is the foundation of the relationship between retailers and their customers. Due to the general erosion of consumer trust, the World Economic Forum has noted1 that nearly $1 trillion is at stake in the digital retail economy by 2016,\u201d says Liz Eversoll, CEO. \u201cTrusted retailers will win that business.\u201d
\nThis financing round comes on the heels of a number of accolades announced by SOLOMO in recent weeks, including its announcement of its designation by Gartner Research as a 2013 Cool Vendor in Retail2, Microsoft BizSpark\u2019s recognition of SOLOMO as a \u201cFeatured Startup\u201d, and recognition for SOLOMO\u2019s \u201crock star team\u201d in a recent NBC Chicago blog post.<\/p>\n

About Venture Management LLC
\nVenture Management LLC (http:\/\/www.vmllc.com) is a private investment office based in Madison, Wisconsin. VMLLC currently has 20 active investments including positions in ecommerce & internet services, medical devices, biotechnology, pharmaceuticals, and clean & renewable energy technologies. Over the past few years VMLLC has had several successful exits.
\nAbout Don Layden
\nDon Layden is Operating Partner at Baird Venture Partners and a Partner with Quarles & Brady. He is also an active investor in, and director of, several technology enabled business service companies. Layden held executive management roles with Metavante, Fiserv, NuEdge Systems and Marshall & Ilsley during his career.<\/p>\n

The post SOLOMO Tech Raises $1.7 Mln<\/a> appeared first on peHUB<\/a>.<\/p>\n

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SOLOMO Technology said Wednesday it completed a Series A first close worth $1.7 million. The round was co-led by Venture Management, and Don Layden, and included participation by Wisconsin Investment Partners. SOLOMO said the equity investment leveraged additional funding from the Wisconsin Economic Development Corp. PRESS RELEASE Madison, Wisconsin, May 29, 2013 \u2013 SOLOMO Technology, […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-660934","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/660934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=660934"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/660934\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=660934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=660934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=660934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}