Geenee Raises $7M Series Seed Round to Accelerate Mobile Image Recognition and WebAR Growth
LOS ANGELES, Nov. 4, 2019 /PRNewswire/ -- Geenee, Inc. ("Geenee"), the mobile software startup helping brands engage their audiences, today announced the closing of its $7 million Series Seed Round. The round was led by IDI Partners, LLC ("IDI Group"), a multi-family office VC platform which also has investments in Snapbac, LLC and EBY, LLC, as well as other early stage companies. The raise will accelerate the company's go-to-market strategy and the introduction of additional product offerings.
Geenee helps brands and agencies unlock new revenue opportunities by enabling consumers to recognize, engage, and shop the physical world around them. Using its patented, browser-based image and video recognition, Geenee's technology allows portable devices to trigger rich, contextual content and e-commerce at the moment of inspiration.
The investment round follows a successful year of new partnerships with global brands and agencies including Warner Bros., Publicis and Miller Lite. Geenee's technology most recently powered an ongoing international campaign for Warner Bros.' release of IT Chapter 2.
"We are making the physical world around us easily recognizable with mobile, browser-based technology. By combining powerful image and video recognition, WebAR and creative services, we are unlocking new revenue opportunities that never previously existed," said Sandro Christen, CEO of Geenee, in announcing the capital raise. Christen noted that the company intends to close at least another $6 million in the coming months in a Series Seed+ round.
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