Mobestream Media, the developer of the smart phone shopping app Key Ring™, closed a Series A funding with Austin Ventures.
The company intends to use the funds to hire 10 new employees, including Bobby Billman as CMO. Mr. Billman will be instrumental to future brand and business growth of Key Ring Reward Cards, which allows users to store existing loyalty cards into their phone, join new programs and receive offers and coupons.
Currently available on both the Android Marketplace and the iPhone App Store, Key Ring™ is in the final testing phase for launch on the Windows Phone 7 and Blackberry operating systems.
The business platform is designed to allow merchants to create new loyalty programs and extend the capabilities of an existing one through mobile enrollment and real-time offer distribution.
The company was founded by President Chris Fagan.