During the run-up to 2017, Reveal Mobile spent two years shaping itself into an innovator in mobile location technology and beacon detection. The start-up’s patented algorithms convert mobile location data – detected by GPS, beacons or WiFi – into the most accurate and precise mobile audience segments possible for app publishers, advertising, financial, retail, and real estate decision-makers.
At the beginning of this year, CEO Brian Handly challenged the company with lofty technological and financial goals. The Reveal Mobile team responded, and their hard work is now paying off in all areas: product expansion, partnerships, revenue and funding.
In just the first six months of 2017, the volume of mobile location data that Reveal Mobile collected from commercial establishments around the U.S. surged, providing exponentially more value to its customers:
- Reveal Mobile now sees data from 1 out of every 5.5 adult smartphone owners in the U.S. Since January 2017, monthly active users have increased 775% within six months from 4 million to 35 million.
- The amount of monthly location events the company processes also grew from 76 million to 12.8 billion, a 16,000% increase.
- Daily active users also followed this upward trend, rising from 400,000 to 8.5 million–a 1700% increase;
- While the accumulation of data events across the board has increased, Reveal Mobile decreased its infrastructure costs over 75% through the work of its engineering team and data scientists.
Reveal Mobile’s audience-building technology now spans from apps to social media. In April, the company launched its newest product, Social Direct, that enables advertising agencies, retailers and brands to leverage location-based audience data for highly targeted social media campaigns. Social Direct gives advertisers the ability to create custom audiences from Reveal Mobile’s data gathered from millions of mobile devices and then optimize campaigns through location-based retargeting.
Steven Miller, VP of Digital at Digital2GO, a leading agency in “Context as a Service” solutions, trialed Social Direct for a campaign focused on building location-based audiences of auto buyers for major auto manufacturers. Miller said, “The campaigns performed so well that a one-month campaign turned into a nationwide, year-long engagement for our company.”
Reveal Mobile also added 200 new apps from publishers since January. It holds a portfolio of over 600 news, weather, lifestyle and gaming applications, and supports a best-in-class integration with mParticle for enterprise customers. Collectively, its scale meets and exceeds many well-known mobile brands such as Foursquare, eBay, and Flipboard.
While product development and data acquisition have accelerated, the most notable accomplishment of 2017 is the company’s financial success. Reveal Mobile is growing revenue at nearly 50% per month. Instead of large rounds of funding, the company continually hit proof points, receiving funding in accordance with key milestones. By the end of this summer, Reveal Mobile will have received over $3.5 million in funding.
“Under CEO Brian Handly’s leadership, the Reveal Mobile team continues to meet and frequently exceed our expectations,” said David Jones of Bull City Venture Partners. “Their dedication and hard work throughout the past three years is truly paying off in 2017. It’s great to be involved with the company, and we’re thrilled to see them succeed.”
“I’m very proud of the things we’ve been able to accomplish thus far,” said Handly. “We believe the mobile location data space is just beginning to heat up, and we see great things for us on the horizon.”