Reveal Mobile Reflects on a Successful Third Quarter Surpassing Several Goals
Third quarter was Reveal Mobile's strongest to date for monthly recurring revenue, and total revenue is up 40 percent over the same quarter last year.
RALEIGH, N.C., Oct. 15, 2019 /PRNewswire-PRWeb/ -- Start-ups have all kinds of great stories. The time we all shared a tiny space to code and launch our first product. The time we saw that tweet from a celebrity mentioning us. The time we pitched to a packed house at StartUpCon.
At Reveal Mobile, we have our share of stories worth telling, but those are best told over a cup of coffee. Today, we want to share with you a set of meaningful business highlights from the last quarter.
Third quarter was our strongest to date for monthly recurring revenue (MRR). We surpassed Q2 by nearly 30 percent and set the pace to close the year with record highs. We also surpassed our new customer goal by 30 percent. All told, we ended Q3 with total revenue up 40 percent over the same quarter last year.
On the product front, we expanded our proprietary point of interest (POI) database in VISIT Local to include Canadian businesses. That means agencies and brands focused on advertising in Canada now enjoy the same powerful location-based analytics, audiences, and foot traffic attribution reporting that US businesses have.
As a testament to the value our customers are seeing in VISIT Local, 90 percent are using the product every month, and we have zero churn. Our customers are creating nearly 30 percent more location-based audiences than the previous quarter, and the number of audiences they downloaded to use in location-based marketing campaigns is up 46 percent.
Beyond day-to-day usage metrics, Reveal Mobile was granted our second US patent for "Determining High Value Geographic Locations" this past quarter. This covers how audience locations of interest are determined through the use of machine learning algorithms.
In the kudos category, the MarTech Breakthrough Award named VISIT Local the best Location Based Marketing Platform for 2019. The NC Tech Awards also selected Reveal Mobile as a finalists for the best Analytics Platform.
Lastly, we made a few new hires in Q3 to support our growth plans. Randy Kilgore, a tenured media and technology executive with experience at the Wall Street Journal, Tremor Video and Gannett, joins us as chief revenue officer. Randy. Dan Dillon, also a seasoned software marketing executive with experience at high-growth companies such as Cerner, Perceptive Software and Litera Microsystems, joined us as vice president of marketing.
About Reveal Mobile
Reveal Mobile is an industry leader in location-based marketing, analytics, and foot traffic attribution. Customizable reporting helps advertisers and agencies easily understand the audiences that visit the locations they care about, and the profile of that audience. A powerful user interface makes it easy to build location-based audiences and then reach them through digital advertising and social media. Foot traffic attribution reporting simplifies the process of understanding the increase in foot traffic as a result of the campaigns. The company's privacy-compliant approach has earned the company membership in the Network Advertising Initiative, undergoing annual privacy certifications. Reveal Mobile is based in Raleigh, NC. For more information, visit https://revealmobile.com.
SOURCE Reveal Mobile
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