Tech Company Raises $1.5M, Rebrands

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Indianapolis-based tech company ZIO is relaunching as OpenMartech. The company says the rebranding follows a $1.5 million fundraising effort to create what it says is the retail industry’s first open marketing hub. 

OpenMartech says its platform allows retailers to use the hub to access shopper data, customer insights and the ability to create marketing programs. The platform is open-source, which means it can be hosted in a user’s own cloud environment without the need for licensing or subscription fees. 

The company says the $1.5 million in funding came from its founders, industry insiders, angel investors Indianapolis-based Elevate Ventures, the IU Philanthropic Venture Fund and the Innovate Indiana Fund.

"We are uniquely positioned to change the conversation within the industry," said Kelly Schwedland, president and chief revenue officer of OpenMartech. “We have the opportunity to remove the technical barriers preventing marketers from achieving their strategic goals – and we can do it for all of retail."

The OpenMartech platform is being made available to retailers through its Accelerate360 Early Access Program. The company says the technology is expected to be available to all retailers in the spring of 2020.