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Beacon Technology Company Estimote Raises $10.7 Million Series A

Estimote, a beacon company whose small, wireless sensors and accompanying software provide indoor location technology to some of the largest retailers as well as 65 percent of the Fortune 100, has now closed on $10.7 million in Series A funding. The round will help the business scale to meet the needs of its current customer base, around half of which is retail, as well as fund R&D efforts related to what’s next. On that front, Estimote says that it will soon launch its next hardware product – something that will expand the company beyond beacons. The new round was led by Javelin Venture Partners, and included new investors Homebrew, Box Group, Digital Garage, Commerce Ventures, and a group of strategic angel investors, including Josh McFarland, who just sold TellApart to Twitter.

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