A year ago, Reveal Mobile CEO Brian Handly took the stage at 36/86 South in Nashville to pitch a startup with strong intellectual property and promise, but with just a few customers and a meager $3K in monthly revenue.
A lot has changed in a year, he reflected this morning at the 2017 edition at 36/86. On stage yesterday, he shared a 926% increase in revenue year-over-year and announced another $700,000 capital raise, validation from existing investors Bull City Venture Partners, Idea Fund Partners and Alerion that the mobile audience data and insights startup is on the right track.
That fast growth is a long time coming for Handly, a serial entrepreneur in Raleigh initially recruited in 2014 to run a Capitol Broadcasting Co. (ExitEvent’s parent company) spinout called StepLeader Digital. Six months into the job, sales began to dip for the apps and ad network the company developed on behalf of major U.S. broadcasters.
Rather than move on, Handly suggested the company keep innovating.
StepLeader eventually rebranded as Reveal Mobile after figuring out how to use Bluetooth low energy beacons installed in retail stores and restaurants around the U.S. to collect data from tens of millions of mobile phone users based on where they go with their phones and the apps they use. Combined with census and other data sources, Reveal could compile really specific customer profiles that match the people brands want to reach.
So how does Reveal’s technology work? Read the full story at:
Demand for Mobile Audience Data Helps Reveal Mobile Lure Another $700K
