Reveal Mobile, which is focusing on development of commercial applications linked to wireless (bluetooth) beacon technology, has secured $500,000 in new capital.
The Raleigh-based startup said it had raised the capital in a mix of debt and options.
However, Reveal isn’t talking about the funding – or its plans.
“While we’re doing better than ever, we’re holding off on any press about this round for now,” said Matthew Davis, reveal’s vice president of marketing.
More news could be coming soon, however.
“We should have big news to share in the coming months,” Davis noted.
Six investors participated in the funding, according to an SEC filing disclosed Friday.
Reveal had been seeking to raise $1 million.
Capitol Broadcasting, the parent company of WRAL TechWire, is an investor in the firm.
In the filing, CEO and investor Brian Handly said the funds would be used for “working capital, which may include normal compensation to executive officers.”
In July of last year, Reveal raised $1.25 million as it made a strategic pivot to focus on beacons.
The company raised $4.5 million in 2013 and another $500,000 the next year, according to securities filings.
