Mobile audio traffic platform GreenOwl nets $2 mln in funding

Markham, Ontario-based GreenOwl Mobile, maker of a real-time mobile audio traffic platform, has secured $2 million in financing. The round was led by an unidentified Chinese-based team of mapping and location industry experts. GreenOwl intends to use funding proceeds to accelerate the development of its mobile traffic platform and to expand more rapidly into strategic markets in the United States and China. The company’s app, TrafficAlert, provides voice-based traffic guidance and descriptive incident reporting to avoid traffic delays.

PRESS RELEASE

GREENOWL MOBILE RAISES $2M IN FUNDING

2013-10-28

Toronto, Canada – October 28, 2012 – GreenOwl Mobile, developer of the real-time mobile audio traffic platform has raised $2m in funding. This round was led by a Chinese based team of mapping and location-based industry experts.

The company intends to use the capital to accelerate the development of the mobile traffic platform and to expand more rapidly into strategic markets in the United States and China.

GreenOwl Mobile CEO Matt Man said, “This additional infusion of capital is timely and strategic. We get to build out our service coverage quicker. It will accelerate our product development roadmap for the features that our users and business partners had been waiting for. This investment also validates the need for better smart transportation mobile solutions in all emerging markets.”

About GreenOwl Mobile

GreenOwl Mobile (www.greenowlmobile.com) is a mobile technology company with a vision to provide location intelligence to make people more efficient. GreenOwl’s platform links drivers, media outlets, transportation agencies, content publisher, and advertising clients in a new way with its contextual audio delivery engine. The company’s app, TrafficAlert, is one of the most driver-safe mobile technologies on the market, providing voice-base traffic guidance, descriptive incident reporting to avoid traffic delays.

For further information, please contact:

Charles Wen

Charles.wen@greenowlmobile.com

1-888-901-8134

Photo courtesy of Shutterstock.