ThinkNear, a NYC-based provider of an automated solution designed to help local merchants increase customer visits at their stores, recently closed a $1.6m seed financing.
The round was led by IA Ventures, with participation from Google Ventures, Qualcomm Ventures, Metamorphic Ventures, Real Ventures, ff Venture Capital, Zelkova Ventures, BoldStart VC and angel investors including David Tisch and David Cohen of TechStars.
Led by CEO Eli Portnoy, ThinkNear provides a system that monitors when businesses have unused capacity and brings in customers nearby by displaying discounts on their mobile phone. The service, which is based on technology and algorithms that automatically determine slow times for merchants, is currently open in New York City for restaurants, spas and hair salons. The discounts are surfaced on mobile apps and websites customers are already using.