CrowdOptic, a San Francisco, CA-based developer of crowd-driven mobile applications, has received a debt financing from Silicon Valley Bank (Nasdaq: SIVB).
The amount was not disclosed.
The company intends to use the proceeds of financing to accelerate development of its technology platform and expand its sales efforts.
Led by COO Jim Kovach, CrowdOptic has developed mobile technology for live events, which is already used in a wide range of premier sporting and entertainment venues. It detects clusters of people who are all looking at the same thing at the same time through their smartphone cameras while taking photos and videos.
CrowdOptic also supplies the data that helps enterprises track heat at their events and create highly targeted, context-aware marketing and advertising campaigns.
FinSMEs
18/05/2012