ROXIMITY, Inc. raised $18,000 from one investor via an equity offering. The private placement was the third one done by the company since its inception in March 2012. The company raised an estimated $1 million in equity and convertible promissory notes thus far.
The company designed an alert platform that delivers relevant offers based on the user location and preferences. The mobile application (app) is available for iOS and in Ford cars via SYNC for now. The app is free to download for users and the service is available for a fee for merchants.
ROXIMITY is headquartered in Denver CO and was founded by Austin Gayer and Daniel Newman (CEO).
The company’s direct competitor, which was founded in June 2012 is FOMO Media LLC, a company Random Research wrote about in early May.