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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.

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