Location intelligence startup Geoblink raises €5 million for research and development and to boost its presence in Spain, the UK, and France.
The latest round of funding into the SaaS location intelligence startup comes from Elaia Partners, a French Venture Capital firm specializing in digital technologies, along with previous investor, Nauta Capital.
This investment round also includes grants from the Government of Madrid and Neotec CDTI, a public organisation for technology development in Spain.
“Our goal is to make Geoblink the absolute leader in location intelligence and really help businesses of all sizes to use data and analysis to improve their bottom line and gain competitive advantage,” wrote Geoblink CEO and Founder, Jaime Sánchez-Laulhé on the company blog.
“In addition to the further support from Nauta Capital who has been an investor since 2016, we’re excited to have received funding from Elaia Partners who are a leading and active venture capital firm in the digital space. Their confidence in our technology and growth potential will enable us to really accelerate our presence,” said Sánchez-Laulhé in a press release.
With a strong focus on retail, FMCG and real estate, Geoblink functions as the backbone for companies in which location matters when it comes to taking key decisions regarding their businesses.
“Throughout the investment process, we’ve had the opportunity to talk to a number of Geoblink customers and have been really impressed with their feedback in terms of ROI and the quality of the location intelligence provided by the company,” said Samantha Jerusalmy, Partner at Elaia.
“Elaia has been investigating the Spanish ecosystem for a long time now and have made multiple investments in deep B2B technologies. As the first to be announced from our last fund, we are delighted to back the amazing Geoblink team!” she added.
Founded in 2015, Geoblink’s mission is to empower companies of any size to take strategic and informed decisions and optimize the performance of their businesses with the most intuitive Location Intelligence tool.
At the beginning of last year Geoblink branched out of Spain and launched its services first in the UK and then in France.
According to El Referente at the time of the launch in France, Geoblink offers an application aimed at companies that have a network of establishments and are in the process of expansion or want to understand and improve their current network of shops. They have clients such as Generali, Eroski or Toyota, who have been able to significantly reduce their analysis times and access geolocated Big Data sources through the intuitive visualization layer offered by the application.
Through its agreements with banks and other entities, the Geoblink product incorporates Big Data sources of commercial transactions, allowing users of the application (Directors of expansion, marketing and retail) to know the consumption habits in commerical area, the average expenditure by category, and the daily, weekly and monthly time patterns.
In addition, the application allows obtaining estimates of pedestrian traffic at street level, complete competitive analysis to know the distance to competitors and some of their characteristics, as well as more usual data such as tourism, the floating population, or the wealth index.
Once the user locates a suitable zone for a new opening, he or she will be able to see the available commercial premises and organize them by size, price and whether they are for purchase or rent.