LISNR, audio technology startup has announced it raising $10 million in Series B round of funding led by Intel Ventures along with Mercury Fund, Jump Capital and R/GA Ventures.
Founded in 2012, the startup LISNR is a complete mobile engagement platform that allows its users to interact with media and the live environment everywhere. It uses am inaudible digital sound file to turn any device into a beacon. It gives brands and content creators a platform that delivers second-screen experiences and proximity-based messaging. Unlike Bluetooth that requires special hardware to transfer data wirelessly, SmartTones can be used by any device with a speaker and microphone.
Rodney Williams, CEO of LISNR said, “We have earned huge industry and launched exciting client partnerships over the past few months. This round of funding is all about adding fuel to the momentum we have built-in the market. The funding will allow us to continue to build out our leadership team while further accelerating our customer acquisition efforts.” Just prior to funding, Eric Allen, former senior vice president & GM at Sony Gracenote joined as President and Mick Suh, former P&G executive and sales leader at Coupons.com, joined the company as Chief Revenue Officer.
“Our investment in LISNR is the latest investment from Intel Capital’s Diversity Fund, which was announced earlier this year,” said Lisa M. Lambert, managing director and vice president of Intel Capital. “LISNR’s innovative technology solutions work seamlessly across physical and digital spaces and provide compelling use cases around location-based and connected services. Not only does LISNR’s technology align with our focus on new devices and the Internet of Things initiatives, but its team represents the next generation of diverse and talented entrepreneurs that are solving the needs of a diverse public and shaping the innovations of tomorrow. Rodney is an exciting new breed of African-American entrepreneur, having been recognized by Jet magazine as one of their “Top 40 under 40” and having been invited this year to a demo day at the White House with a diverse group of entrepreneurs.”
Earlier, LISNR raised $35 million in Series A funding and $850,000 in a seed funding round. The startup’s first investor CincyTech provided a grant in 2012 and leading or contributing to its 2013 seed and 2014 Series A rounds.
Williams added, “It can be used for office automation, devices connecting faster and better – there’s so much demand for a lo-fi way to connect devices. I imagine as we progress there will be more and more use cases that will diversify the way LISNR makes money.”