Swirl Raises $8 Million
Swirl Networks is a Boston-based technology company that helps retailers customize their mobile applications. Shoppers can be pinged with marketing messages and discounts while they are inside the stores. Swirl Networks has raised $8 million in funding led by Hearst Ventures. This round of funding also includes participation from existing investors like SoftBank Capital and Longworth Venture Partners.
Swirl Networks plans on using the funding for the expansion of their technology platform. Some of the retailers that are test-piloting Swirl includes Timberland, Alex and Ani, and Kenneth Cole.
Swirl said that their app works great for fighting against “showrooming.” Showrooming is when consumers check out products inside of retail stores and then go home and buy it online at a cheaper price. Swirl uses indoor positioning technology to convince shoppers to buy the products inside of brick-and-mortar stores.