Sign up Australia
Proactive Investors - Run By Investors For Investors

Wangle Technologies to focus on customer acquisition following $1.4 million placement

The company's short term development goals for 2017 have been completed.
GPS gating feature
GPS gating feature has been finalised

Wangle Technologies Ltd (ASX:WGL) has received firm commitments to raise $1.4 million via a share placement at $0.014 each.

The funds will enable the company to invest in aggressive brand and customer acquisition strategies for its family protection software suite, Wangle Family Insites (WFI).

The WFI product suite is able to analyse children’s internet access in real time and also send parents notifications in real time to help manage cyber threats.

Wangle is also preparing to launch the GPS Gating feature for WFI, allowing parents to set an alert that activates when a child’s device moves outside of a 20-metre radius from the chosen location.

Ready for aggressive customer acquisition strategies

GPS gating has been finalised for both iOS and Android versions of WFI and is being deployed to the live environment in readiness for roll out to customers by Friday, 8 December.

Importantly, the feature update completes Wangle’s short term development goals for WFI for 2017 in readiness for aggressive client acquisition marketing activity.

Last week, WFI achieved the number one position in the parenting category of the Google Play store.

READ: Wangle Technologies app ranked first on Google Play store

The company recently entered an agreement allowing it access to funding of up to $2 million in the form of a convertible loan.

However, as a result of the new placement, it does not intend to draw these funds in the short term.

Meanwhile, development of desktop versions of the Wangle VPN for inclusion within WFI is continuing with a launch anticipated early next quarter.

VPNs (virtual private networks) allow users to access the internet in a way that shields their activities from the eyes of outsiders.

View full WGL profile View Profile

Wangle Technologies Ltd Timeline

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use