Unacast, an Oslo, Norway-based operator of a proximity network which enables brands and retailers to retarget customers online based on offline behavior, raised $5m in Series A venture capital funding.
The round was co-led by Open Ocean Capital and Investinor, with participation from Jonah Goodhart, Michael Barrett, Jason Kelly, and Bill Wise.
The company will use the funds to continue to hire new people and expand operations.
Led by Thomas Walle Jensen, CEO, and Kjartan Slette, COO, Unacast operates a network of beacon and proximity data, connecting the physical world to the digital for online retargeting and attribution.
The company partners with large proximity companies, which currently covers 1.4m of the world’s beacons, and connects the resulting data sets to global ad platforms to enable digital ad retargeting based on physical behavior.
Unacast has offices in NYC, San Francisco and London.