Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, has announced that it has made a $500,000 investment in Interactive MOBILE @dvertising Inc. (iM@) of Norwalk, Conn., through its Seed Investment Fund. CI’s investment was part of an $800,000 funding round also involving individual investors. This investment represents CI’s eighth investment in early-stage Connecticut-based technology companies since the fiscal year began in July.
Kerry J. Cannon, Jr., iM@ chief executive officer, said, “We could not be more enthusiastic about our relationship with, and the support we have received from, Connecticut Innovations. Mobile is where information delivery is headed. The investment team at Connecticut Innovations has recognized that for a long time and has demonstrated the discipline, vision and creativity to support businesses like ours at the vanguard of mobile content delivery.”
iM@ has developed “geo-intelligent” mobile travel and event guides for leisure and business visitors to the most popular tourist destinations in the United States. Through a free mobile phone application and mobile website, iM@ provides travelers with access to destination-specific information, including dining options, accommodations, transportation, shopping and attractions. Additionally, iM@’s Mobile Expo Guides provide trade show attendees with maps, conference information, show announcements, exhibitor directories, promotions, and local information and offers. The company’s platform also allows local, regional, and national travel product and service suppliers to reach and interact with potential customers. Advertisers can communicate their value proposition to visitors who seek out information through the iM@ application. They can also proactively send offers and content related to a particular travel destination to travelers who opt to receive such information.
“Interactive MOBILE @dvertising, with its destination-specific travel tool, is a welcome addition to Connecticut’s growing base of companies serving the travel industry,” said Governor M. Jodi Rell. “An important contributor to economic growth and job creation, tourism in the United States is a $1.3 trillion industry, generating $116 billion in tax revenue. With Connecticut Innovations’ investment in iM@, we are helping to strengthen this industry here in Connecticut and build important job opportunities for our citizens.”
Peter Longo, president and executive director of CI, said, “Given the ubiquity of mobile devices, this is the optimal time for the launch of Interactive MOBILE @dvertising’s exciting, new platform. This platform promises to change the way tourists access information and offers from local businesses – allowing them to access information immediately and interactively, on a user-defined basis and with geographic specificity. They’ll have all the travel information they need in the palm of their hand.”
Interactive MOBILE @dvertising, www.imatmobile.com
