ActionX, a US-based mobile commerce platform for acquiring and retargeting mobile customers, has raised $5m from SoftBank Capital, the strategic investment affiliate of Japan-based telecommunications, internet and media conglomerate SoftBank Group, Verizon Investments, the venture capital subsidiary of broadband and telecommunications company Verizon Communications, AOL Ventures, the corporate venturing unit of internet services provider AOL, venture capital firms Lerer Ventures and Golden Venture Partners, and angel investors.
The funding round coincides with the launch of the ActionX platform, which is designed to maximize the lifetime value (LTV) of mobile customers.
Joe Medved, partner, SoftBank Capital, said: “Mobile commerce is clearly heating up, with comScore reporting spend topping $10.6 billion in the first half of 2013. ActionX developed its mobile platform strictly to drive transactions, which speaks to the expertise and knowledge of their team who have been pioneers in e-commerce for almost 20 years. We are excited to see ActionX’s innovative technology quickly become the standard for the mobile commerce industry.”
Eric Hippeau, managing director at Lerer Ventures, said: “Mobile is fueling the next big inflection point in e-commerce. As brands get more sophisticated in their approach to mobile, ActionX is well positioned to drive important added value for its clients’ multi-channel efforts.”
Evan Schwartz, co-founder and chief executive officer of ActionX, said: “The ActionX platform is tuned to drive revenue and subscribers for our clients in an increasingly multi-screen world. Our campaigns are successful because the ActionX platform targets ads and optimizes–in real-time–based on the goal of moving from click to sale.”