Twitter Invests in Beacon Marketing Firm Swirl

in store beacon visualisationTwitter Ventures has participated in an $18m Series C funding round for proximity marketing firm Swirl Networks.

Swirl offers a platform for indoor mobile marketing using Bluetooth beacons, including the Swirl Ad Exchange, which claims to be the world’s first programmatic ad exchange for beacon-powered mobile advertising. It currently works with brands including Urban Outfitters, Marriott and Timberland.

Other investors in the Series C round include Hearst Ventures, SoftBank Capital and Longworth Venture Partners, bringing Twirls total funding to date to $32m. Swirl says it will use the funding to expand its sales and marketing operations and to fuel aggressive investment in product innovation.

“The caliber of strategic investors and partners in this round validates the immense potential that proximity-based indoor mobile marketing has to transform the advertising and retail landscapes,” said Swirl founder and CEO Hilmi Ozguc. “Swirl is helping leading retailers, publishers and brand advertisers bridge the physical and digital worlds in a way that was never before possible. This new investment gives us unmatched resources to accelerate our efforts and extend our leadership position in this exciting space.”