Blis, the global pioneer in advanced location data technology, has today announced that it has secured US$25 million in funding from major new investors Endeit Capital, Beringea US and Unilever Ventures, alongside additional credit facilities provided by Silicon Valley Bank.
The investment will help fund the continued expansion of Blis into new markets, including the US, and the scaling of international sales and marketing activities. It will also be used to enhance Blis’ core data engineering capabilities, as well as the development of new product features.
Since launching in London, Blis has grown rapidly to become one of the largest location technology companies in the world, operating a profitable, high-growth business in over 50 markets from eight offices throughout APAC and EMEA.
Greg Isbister, Founder and CEO of Blis, commented: “We firmly believe that location technology is the future of digital advertising and we’re delighted to have received significant funding to support our expansion. The investment recognises the unique value of location and Blis’ market-leading data platform.”
With US location-targeted mobile ad spend predicted to be worth $11.3 billion in 2016 and growing to $26.7 billion by 2020, Blis’ unique technology is already helping media agencies, publishers and brands unlock the power of location. The company provides award-winning location-based technology solutions to global brands, including Airbnb, Ford and Samsung.
Investors Martijn Hamann, Endeit Capital; Mark Donnelly, Beringea US; and Ian Lane, Unilever Ventures, will join Blis Founder and CEO Greg Isbister, President Harry Dewhirst, and Rob Hodgkinson of Beringea UK on the Blis Board of Directors.
Martijn Hamann, Partner at Endeit Capital, said: “Blis has created a leadership position in the global market through its pioneering use of location technology. At Endeit Capital, we’re always looking to support genuine innovation and so we’re excited to be working with Blis as the company enters the next phase of its development.”
Mooreland Partners acted as the financial adviser to Blis in the Series B financing round.