Placecast Raises $3M

Placecast, a San Francisco and New York-based developer of a location-based platform designed to use digital marketing on mobile to drive consumers into physical environments, raised an additional $3m in Series B funding.
Investors include existing backers Quatrex Capital, ONSET Ventures and Voyager Capital.
The capital infusion will enable the company to expand and rollout its ShopAlerts location-based marketing service to a larger network of retailers.
Major brands such as the The North Face, SONIC Drive-in and American Eagle have already begun using programs on the ShopAlerts service, which delivers location-triggered mobile messages when consumers enter boundaries created around a physical location.
Retailers and large companies in the carrier, handset and digital media industries, have already showed their interest in the service. 
This $3m funding adds to the company’s $5m Series B round raised in November of 2009.

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