Phoenix, AZ, Nov. 25, 2015 (GLOBE NEWSWIRE) --
RAADR, Inc. (OTCQB: RDAR), a technology and software development company that monitors cyber bullying and social media platforms through its artificially intelligent proprietary web-based application, today announced the successful close to attain seed capital from a group of investors totaling in the six figure range. This cash infusion will spur growth and greatly shorten the timeline of the mobile development.
The current round of funding will allow RAADR to develop and launch their parental monitoring app into Apple’s iOS app store. Due to the complex and often tedious process of launching an iOS app, the company has decided to develop their app for Apple devices first, with an initial app store submission planned by mid-December. Following a successful iOS launch, the company intends to launch their Android app. Android development is slated to start in early 2016.
RAADR, Inc. CEO, Jacob DiMartino says, “We are very happy to announce this news, as we know this capital infusion will allow us a smoother and quicker launch onto mobile devices through the iOS and Android app stores respectively. This will allow us to broaden our horizons and reach a much larger audience. For the first time ever, more than half of online shopping sessions are expected to be on mobile devices this holiday shopping season. This exponential growth is something we plan to tap into.”
In addition to aiding with development and publication costs for the mobile apps, RAADR will utilize this round of funding to pay vendors who have done important work in getting the company and its product where they are today.
About RAADR, Inc.
RAADR, Inc., makers of the artificial intelligent proprietary technology application RAADR©, have developed a web based tool that provides families with peace of mind when it comes to knowing that children are safe from bullying and predatory behavior unfortunately so prevalent today. By customizing their own unique monitoring and alert settings, parents and guardians can be alerted when their children's Facebook, Twitter, Instagram and other pertinent social media platforms under scrutiny become posted with inappropriate language. By utilizing customized keywords chosen by the user that are added to an already existing database, parents and guardians can carry a sense of assuredness that the youth they love and are responsible for are safe and acting in a fun, yet appropriate manner. No parent or guardian has the time or resources to be in constant surveillance of all the Social Media platforms in which their children might be active. Nor do most children want intense scrutiny of their updates and postings, despite the best intentions. You want to trust your children, while at the same time knowing that you are protecting them. RAADR© gives families the ability to protect their image, combat erroneous postings and for individuals safeguard their children from online bullying. The Company's core competency is focused on building and acquiring apps and other products, services and companies to build a nationwide network of related businesses that are positioned to serve the mobile app development needs of small businesses and individuals
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief, or current expectations of RAADR, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond RAADR, Inc.'s ability to control and their actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in RAADR, Inc.'s filings with the Securities and Exchange Commission.
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