Venture Management, LLC and Don Layden co-led a $1.7 million investment round for Madison’s SOLOMO Technology, Inc.
Solomo Technology Inc., a Madison company that provides retailers and other businesses with mobile technology tools, has raised $1.7 million of venture capital funding. The company will use the money to accelerate product development and increase its sales and marketing activities.
The company is releasing its patent-pending Solomo Exchange web services platform, which allows retailers to offer products, promotions and other services to customers in exchange for their personal data. Customers store and control their data on the platform. Retailers can use the platform to do things like deliver special offers to customers based on which aisle they are shopping in, or collect data about traffic patterns and hot or cold sales spots in the store.
Read more at the Milwaukee Journal Sentinel.