HangIt Raises Big Bucks to Shake Up Mobile Marketing

Mobile MarketingHangIt, a mobile platform company founded on the principle that “mobile location changes everything,” says it has just raised $6.2 million in seed funding.

The company has also recently established headquarters in New York City.

The HangIt platform, to be launched later this year, is an open, turnkey cloud-based service – free to app developers and publishers – built to enable advanced location-based messaging and marketing in any app.

They’re also developing a set of marketing products on their platform.

HangIt is a co-invention of Cornell Professor of Entrepreneurship and Innovation Jason Hogg who serves as chairman, and Nicolas Johns, an intellectual property attorney who is the company’s chief architect.

Hogg said “Our first products on the platform will disrupt the mobile advertising industry by creating new marketing channels that deliver increased relevance and revenue to app developers and publishers by reaching and redirecting customers when they are ready to buy.”

HangIt will extend the boundaries of location-based marketing and messaging when it launches its platform later this year into a rapidly expanding market. According to eMarketer, mobile marketing grew 105 percent in 2013 and mobile ad spending is on pace to reach $31.45 billion this year.