Shop O’ Lot, a San Francisco, CA-based start up developing a retail mobile shopping app, recently raised $500k in seed funding.
Investors include Roger Smith, former CEO of Silicon Valley Bank, Dan Udoutch, former EVP of Commerce One, and Bob Pack, Shop O’ Lot CEO.
The company intends to use the funds to develop its application that aims to help retailers keep their customers in the store shopping.
Founded by Bob Pack and CTO Andreas Hjelming, Shop O’ Lot provides a self service platform based on a predictive analysis engine, which builds a customer’s shopping profile and allow retailers to reach them with products and deals while they are shopping.
The app, which uses GPS and bar-code scanning for delivering the content, will be released on the iPhone and Android OS platforms. It is still in the testing phase and the company plans to launch it during 2011.