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.