Estimote makes small, wireless beacon sensors and accompanying cloud-connected software that provide indoor location technology for retailers and enterprise customers, including 65 percent of the Fortune 100. Its customer base is roughly half retail and includes large chains (TechCrunch reported it as a beacon provider to Target), and it also serves over 50,000 smaller developer customers who feed its SaaS pipeline. The company positions its offering to blur the line between e-commerce and brick-and-mortar retail through location-driven experiences and in-store services. Estimote plans to expand its hardware lineup beyond beacons with a next product that ties into its cloud platform, and expects to release one new hardware product per year. Financially the startup reports "many millions" in annual revenue and strong retention: return customer revenue has risen on average 40% quarter-on-quarter over the past eight quarters dating to Q4 2015. With a team of about 50 across New York and Krakow, the company intends to grow product, engineering, R&D, business and sales headcount and open an office in San Francisco. Estimote ships small Bluetooth products called Beacons and is building a digital platform to handle iBeacon interactions and improved wireless payment solutions. The company is already shipping thousands of beacons per week and says more than 10,000 developers are experimenting with its devices. Retail pilots include Macy’s, and Apple plans to add iBeacon to 254 of its stores — Estimote expects to capture hundreds of those locations. The company won Best Hardware Startup at TechCrunch Disrupt and is preparing for a large rush of orders as it lines up major clients next year. Estimote has headquarters in Krakow, Poland and San Francisco and is opening a New York office as it brings on Steve Cheney as SVP of Business Operations.

Total raised

$14M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2016