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Unacast raises $5m to expand beacon data ad solution technology

Location data provider Unacast has just raised $5m in a Series A financing round led by Open Ocean Capital. The company that collects beacon data across global ad solution providers, plans to use the cash to invest in the technology and expand its team to 30 people. Headquartered in Oslo, Unacast will be growing its team of engineers in the city and add account managers to its NYC office.

Understanding human behavior through the power of data

Just a few years ago, the world was abuzz with the potential that beacon technology offered to reshape the retail industry. Now, several years on, there are even more technologies that offer similar promise. Beacons represent an important source of data regarding in-store customer movement, but the emergence of other sophisticated data collection technologies has added to the potential for understanding human behavior in the real world.