Investment success for Socialwave: The Munich-based provider of hotspot solutions secures growth capital in the high six-figure range.
Members of the Business Angel Club “Angel Gate” and other investors join Socialwave Among those investing in the company, which was launched in 2013, are Philipp Depiereux, founder of the company builder etventure, under whose umbrella Socialwave was established; Christian Legros; Dr. Cornelius Boersch, founder of the venture builder "Mountain Partners"; Matthias Hunecke, founder of Brille24.de; and Thomas Bank, co-founder and managing director of various startups.
"We are delighted that we have been able to convince such renowned investors of our business idea. Thanks to the support of our financiers, we have access not only to fresh capital but also to a wealth of entrepreneurial experience,"
says Mario Schilling, founder and managing director.
Free Wi-Fi hotspots as a marketing tool
The startup has already acquired over 1,000 companies as customers, including the Enchilada Group with dean&david, the Segafredo franchise, and numerous Edeka and Rewe stores. Socialwave offers retailers and restaurateurs legally compliant hotspot solutions: Users log into the customer Wi-Fi network free of charge using their email address or Facebook. By clearly identifying Wi-Fi users, the hotspot complies with legal provisions regarding liability for interference. At the same time, hotspot operators can use the collected data for marketing purposes. In the future, the Socialwave analysis technology will be further developed to gain deeper insights into users. The system will then anonymously record the length of stay, return rate, or location in the store even for customers who are not logged in. This allows advertising and marketing activities to be more precisely tailored to the customer base.
Win-win for consumers and retailers?
The new Socialwave investor Christian Legros is convinced of the business model:
"I was impressed by the innovative concept of Socialwave and the young and creative startup team. A large proportion of customers now expect free internet access – whether for daily shopping or in a restaurant.
Yet retailers and restaurants still rarely meet their customers' needs. With Socialwave, retailers can satisfy this need and simultaneously use the collected data for marketing and analysis purposes."
Philipp Depiereux, founder and managing director of etventure, agrees:
"The Socialwave business model not only offers added value to the customer, but also provides brick-and-mortar retailers with analytical capabilities previously reserved for e-commerce, while simultaneously opening up a digital communication channel to the customer."
Given the current debate on limiting liability for interference, it is unclear how demand for legally compliant Wi-Fi hotspots will develop. However, with enhanced analytics features, Socialwave can certainly continue to offer its customers real added value in the future.
