FUZE Technology Secures $11.5M in Series A Funding to Propel Global Expansion of IoT Hardware and Software
LOS ANGELES, June 13, 2024 (GLOBE NEWSWIRE) -- FUZE Technology (“FUZE”), the pioneering IoT company behind chargeFUZE, the premier pay-per-use mobile charging solution, announces the close of the company’s Series A funding round, securing $11.5 million. This investment will fuel FUZE’s growing demand and accelerate its international expansion, with an emphasis on new product innovations. The company also announces adFUZE, a global network of IoT utilities backed by data-driven advertising, powering the future of DOOH advertising.
The Series A funding round was led by Beverly Pacific with participation from Palm Tree Crew, Bain Capital Ventures Scout Fund, and Dream Ventures. Additional participants include a strategic roster of new and returning investors: Live Nation Entertainment, ASM Global, SCIENCE Ventures, Haslem Sports Group, Simon Ventures of Simon Property Group, Fenway Sports Group’s Michael Gordon, Sunday Ventures, SeaHorse Express, Locker One Ventures, Geoff Lewis of Bedrock Capital, London & NYC-based TR Ventures, Melbourne-based LK Group, Cameron Azoff and Nicolai Marciano.
"We're thrilled to extend our partnership and investment in FUZE’s global network, including chargeFUZE and adFUZE,” said Tom Allison, Live Nation’s Head of New Ventures. “FUZE's commitment to keeping fans powered and engaged throughout shows aligns perfectly with our focus on elevating live music experiences for everyone."
FUZE Technology also announces adFUZE, the company’s in-house data-backed advertising platform, designed to enrich user experiences by delivering relevant media to targeted audiences at scale. With adFUZE, FUZE is marrying cutting-edge hardware and consumer engagement by transforming spaces into dynamic ad platforms, offering brands high-visibility digital screens at premium locations. With data-driven targeting, advanced analytics and real-time data, adFUZE enables precise targeting and measurement for unique advertising opportunities spanning entertainment, retail, hospitality, and more.
“ASM Global has witnessed firsthand the impact chargeFUZE has on enhancing the overall experience of patrons across our various global events and venues,” said Jason Oberlander, ASM Global Chief Commercial Officer. “Our investment in FUZE, allows ASM Global to meet the growing demand for mobile charging solutions through our chargeFUZE global partnership while driving new advertising and sponsorship opportunities for ASM Global’s Media Network through adFUZE.”
"We are thrilled to embark on this next phase of growth with the support of our esteemed investors," said Brandon Afari, FUZE Technology CEO & Ryan Levy, FUZE Technology President. "This investment reaffirms confidence in our vision and underscores the immense potential of everything we are quickly building at FUZE: from chargeFUZE to adFUZE, and beyond. adFUZE is just another example of FUZE’s vision of a World where IoT innovations set the standard for global connectivity, transforming how communities interact, businesses operate, and individuals flourish in an ever-connected society.”
FUZE Technology also unveils its rebrand, reflecting the company’s evolution and commitment to innovation. FUZE Technology remains steadfast in its mission to further propel the advancement of IoT while delivering state-of-the-art technology solutions that connect and positively impact users, venues and brands, ensuring a seamless and enriching experience for businesses and consumers.
Joining the roster of esteemed investors are notable personalities and luminaries such as tennis sensation Nick Kyrgios, online star David Dobrik, acclaimed chef Binging with Babish, and a cadre of influential figures like Bar Rescue’s Jon Taffer, NBA player Terry Rozier, and basketball legend Kenny “The Jet” Smith.
To learn more about FUZE Technology, visit: https://www.fuzetechnology.com/
About FUZE Technology:
FUZE Technology is a global network of IoT utilities backed by data-driven advertising. Renowned for its flagship product, chargeFUZE, FUZE pioneered the mobile charging landscape by offering seamless, pay-per-use charging solutions. The company’s most recent product, adFUZE, delivers contextually relevant content to targeted audiences at scale by marrying the company’s leading IoT hardware and software. With a relentless commitment to innovation, connection and impact, FUZE delivers state-of-the-art technology solutions to ensure an enriching experience for users, venues and brands.
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