iLoop Mobile, a company which provides technology for SMS initiatives, has secured $2 million out of a $4 million dollar round in VC funding, according to peHUB, which cites a regulatory filing. Investor information has yet to be disclosed.
The company which hasn't been in the news much, is quite active in the mobile marketing space. It's provided services for Coca-Cola, Western Union, Yahoo!, Samsung, MasterCard, HP, and that's just naming a few. On iLoop's site, there's about 24 big name brands, which unless you've lived in a bubble, you should have heard of. The company also built Barrack Obama's mobile Web site.
Based out of San Jose, Ca.- iLoop is expanding to Europe. It is in the process of opening offices in Poland and is currently hiring nine new positions.
The functionality of iLoop is something we've all grown familiar with. Basically, a mobile call to action is placed into a traditional form of marketing, for example, somebody sees an ad that says, "Text word SONC to this phone number 20222 to get coupon code...standard text messaging rates apply," and the user gets the reply. You see this sort of thing all the time on American Idol when users vote. iLoop recently partnered with The Special Olympics, delivering a campaign which allowed participants to donate money. By simply texting to the number and taking the steps to donate, $5 is placed on the participants next phone bill - making it super easy.
iLoop is headed by CEO Matt Harris who previously was the CEO of Metroworks which sold to Motorola for $95 million back in 1999.
