Portfolio company LISNR, the creator of SmartTones, a new communications protocol that sends data over audio, has announced $10M in Series B financing in a round led by Intel Capital. Other participating investors include Courtside Ventures, Mercury Ventures, Jump Capital and R/GA Ventures. It’s the latest development in what’s been a year of milestones for LISNR.
“We’ve earned huge industry awards and launched exciting client partnerships over the past few months,” said Rodney Williams, CEO of LISNR, in a news release. “Customers and users are realizing the benefits of our technology, which transforms any object or media into a beacon capable of sending video, data and messages to any device. This unlocks second screen experiences and mobile-to-mobile connections and creates a new level of customer and peer-to-peer mobile engagement. This round of funding is all about adding fuel to the momentum we’ve built in the market.”
LISNR technology uses proprietary inaudible sound waves to connect devices. Think of it as an audio version of Bluetooth, except LISNR requires no hardware or maintenance and very little CPU/battery use. Because LISNR uses sound you can’t hear, it leverages the network of audio that’s everywhere around us, something Williams refers to as a “speakernet” or “Internet of Sound.”
“Anywhere there is a speaker or has the ability to broadcast audio, LISNR has the ability to to turn that object or media into a data transmitting medium,” said Williams.
“Our investment in LISNR is the latest investment from Intel Capital’s Diversity Fund, which was announced earlier this year,” said Lisa M. Lambert, managing director and vice president of Intel Capital. “LISNR’s innovative technology solutions work seamlessly across physical and digital spaces and provide compelling use cases around location-based and connected services. Not only does LISNR’s technology align with our focus on new devices and the Internet of Things initiatives, but its team represents the next generation of diverse and talented entrepreneurs that are solving the needs of a diverse public and shaping the innovations of tomorrow.”
According to its portfolio map, this is Intel Capital’s second investment in an Ohio company.
Read the full release here.