Still in stealth mode, Israel-based cellular applications developer Pdway has raised $3M from “a private investor active in the real estate market.” This is the second round, following a $1M investment last year.
The company has developed technology that enables the distribution and use of coupons at points of sale through cellular handsets. The founders created cell phone based application that enables the customer to search for various coupons for both planned and impulse sales. PDway plans to analyze the behavior of its customers at retail points of sale to personalize coupons. It has registered several patents in the US.
The company’s business model is built on profit sharing with coupon companies, and to this end the company has established agreements with the 10 largest coupon companies in the U.S.
Pdway was founded at the end of 2005 by Omri Kohl and Yuval Madar and has recently opened an office in Manhattan to launch in the US.
He is a former General Partner at Google Ventures (GV) in Europe, former head of Google for Entrepreneurs in Europe, and founding head of Campus London, Google's first startup hub. Eze writes on Israeli tech, venture capital, artificial intelligence, and founder strategy.
He is also the founder of Techbikers, a nonprofit that brings together the startup ecosystem on cycling challenges in support of Room to Read.
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