LISNR Company Profile

Background

Overview

LISNR, founded in 2012 and headquartered in Cincinnati, Ohio, is a pioneer in proximity-based engagement, specializing in secure, hardware-free proximity verification and contactless transactions. The company leverages ultrasonic data-over-audio technology to bridge the gap between digital and physical experiences, enabling seamless interactions between merchants and customers.

Mission and Vision

LISNR's mission is to revolutionize proximity engagement by providing secure, scalable, and frictionless solutions that enhance customer experiences across various industries. The company's vision is to become the global standard for proximity-based interactions, facilitating real-time, personalized engagements that drive customer loyalty and business growth.

Primary Area of Focus

LISNR focuses on developing ultrasonic data-over-audio solutions that enable secure proximity verification, contactless payments, and personalized customer engagement. Their technology is designed to operate without the need for specialized hardware, offering a versatile and scalable alternative to traditional methods like NFC, Bluetooth, and QR codes.

Industry Significance

As the proximity engagement market is projected to grow from $64 billion to $280–$360 billion by 2030, LISNR is well-positioned to lead in this expanding sector. The company's innovative approach addresses the increasing demand for secure, seamless, and contactless interactions in retail, mobility, finance, education, and live events.

Key Strategic Focus

Core Objectives

Secure Proximity Verification: Developing technologies that ensure secure and seamless proximity interactions without the need for specialized hardware.

Contactless Transactions: Enabling frictionless, secure, and offline-ready payments and peer-to-peer transactions.

Personalized Customer Engagement: Providing tools for businesses to deliver targeted promotions, gamified loyalty programs, and meaningful rewards to enhance customer experiences.

Specific Areas of Specialization

Ultrasonic Data Transmission: Utilizing inaudible sound waves to transmit data, facilitating device-to-device communication and proximity verification.

Proximity-Based Marketing: Offering solutions that enable businesses to engage customers in real-time based on their physical location.

Offline Payments: Providing secure, contactless payment solutions that function without internet connectivity.

Key Technologies Utilized

Radius® Ultrasonic SDK: An ultrasonic data-over-audio SDK that enables real-time proximity detection and secure access using standard speakers and microphones.

Quest Engagement Platform: A gamified customer engagement platform that allows businesses to create personalized, rewarding experiences for customers.

Primary Markets Targeted

Retail: Enhancing in-store customer engagement through personalized promotions and loyalty programs.

Finance: Enabling secure, contactless payments and authentication solutions.

Mobility: Providing seamless transit experiences with proximity-based ticketing and promotions.

Education: Facilitating interactive learning environments through proximity-based engagement.

Live Events: Enhancing attendee experiences with real-time, location-based interactions.

Financials and Funding

Total Funds Raised

LISNR has raised over $43 million since its inception in 2012.

Recent Funding Rounds

Series C (November 2020): Led by Mastercard and Visa, this round supported the expansion of LISNR's technology into new markets and applications.

Non-Equity Assistance (October 2020): Provided by SAP.iO, this support facilitated the integration of LISNR's solutions into SAP's ecosystem.

Notable Investors

Visa: A global payments technology company.

Mastercard: A multinational financial services corporation.

Synchrony Financial: A consumer financial services company.

Intel: A multinational corporation and technology company.

Jump Capital: A venture capital firm investing in early-stage technology companies.

Mercury Fund: A venture capital firm focused on early-stage technology companies.

R/GA: A global innovation and design consultancy.

Intended Utilization of Capital

The funds raised are intended to support product development, market expansion, and strategic partnerships, enabling LISNR to enhance its technology offerings and extend its reach across various industries.

Pipeline Development

Key Pipeline Candidates

Radius® Ultrasonic SDK: An ultrasonic data-over-audio SDK that enables real-time proximity detection and secure access using standard speakers and microphones.

Quest Engagement Platform: A gamified customer engagement platform that allows businesses to create personalized, rewarding experiences for customers.

Stages of Development

Radius® Ultrasonic SDK: Fully developed and deployed across various industries, including retail, finance, and mobility.

Quest Engagement Platform: Launched and integrated with several major clients to enhance customer engagement through gamified experiences.

Target Conditions

Radius® Ultrasonic SDK: Designed to facilitate secure proximity verification and contactless transactions in environments such as retail stores, transit systems, and live events.

Quest Engagement Platform: Aims to improve customer loyalty and engagement through personalized, gamified interactions in sectors like retail and hospitality.

Anticipated Milestones

Radius® Ultrasonic SDK: Continued expansion into new markets and industries, with ongoing enhancements to support a broader range of applications.

Quest Engagement Platform: Scaling the platform to support larger user bases and integrating additional features to enhance user engagement and satisfaction.

Technological Platform and Innovation

Proprietary Technologies

Smart Tones™: Inaudible ultrasonic frequencies that transmit data between devices, enabling secure and seamless proximity interactions.

Tone Service API: An API that allows businesses to integrate LISNR's data-over-audio technology into their existing systems and applications.

Significant Scientific Methods

Ultrasonic Data Transmission: Utilizing high-frequency sound waves to transmit data, enabling device-to-device communication without the need for internet connectivity or specialized hardware.

Proximity-Based Authentication: Employing ultrasonic signals to verify the presence of authorized devices, facilitating secure access and transactions.

AI-Driven Capabilities

Quest Engagement Platform: Incorporates machine learning algorithms to analyze user behavior and preferences, enabling the delivery of personalized, gamified experiences that drive customer engagement and loyalty.

Leadership Team

Eric Allen – CEO & President

Eric Allen has been leading LISNR since 2018, ensuring alignment with the company's goals and assisting clients in solving payment and customer experience challenges.

Jennifer Sam – Interim CFO

Jennifer Sam serves as the Interim CFO, overseeing financial operations and strategic financial planning.

Vicky Sagehorn – SVP, Finance & Operations

Vicky Sagehorn is responsible for finance and operations, ensuring efficient organizational processes and financial management.

Warren Williams – VP of Customer Success

Warren Williams focuses on customer success, ensuring clients achieve optimal outcomes using LISNR's solutions.

Coert Voorhees – VP of Commercial

Coert Voorhees leads commercial initiatives, driving business development and strategic partnerships.

Sam Banzhaf – VP of Engineering

Sam Banzhaf oversees engineering efforts, leading the development and enhancement of LISNR's technological offerings.

Bryant Chan – Head of Product Strategy & Product Marketing

Bryant Chan is responsible for product strategy and marketing, guiding the direction and promotion of LISNR's products.

Kristina Shaffer – Head of Product Management

Kristina Shaffer leads product management, overseeing the development and lifecycle of LISNR's product offerings.

Paul Dehmer – Head of Front-End Engineering

Paul Dehmer manages front-end engineering, ensuring the user interface and experience meet high standards.

Daniel Quintans – Head of Back-End Engineering & Infrastructure

Daniel Quintans oversees back-end engineering and infrastructure, ensuring robust and scalable system architecture.

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