Google’s Schmidt Invests In Beacon Startup Estimote

Investors in the round included Google executive chairman Eric Schmidt’s VC firm Innovation Endeavors. Betawords and Bessamer Venture Partners also participated in the round.

We’d love to be your preferred source for news.

Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

Add as Preferred Source

The company also announced former GroupMe business development head Steve Cheney will join the team, running business operations from a new office in New York City.

Estimote is one of many competitors looking to impact a market that includes Apple’s iBeacon and a recently launched option from Qualcomm. For more on Qualcomm’s product and what it means for the market, read our full report here.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.