Title Enhancement: Re-title this piece to highlight Unacast’s funding news and position as a leader in the location data industry. Suggested title: ‘Unacast Bags $17.5M for Pioneering Location Data Platform’.
Original Title: Location tracking can seem pretty creepy if you’re the consumer being watched. But there’s big and growing business in tracking human movements and behavior, thanks to the ubiquity of smartphones. To wit: Unacast, a location data startup from Norway, has today announced a $17.5 million Series B round — to fuel business expansion, including into its home turf of Europe.
The round has been led by White Star Capital, with European telco Telia joining as a strategic investor. Existing investors Open Ocean Capital and the Norwegian government-backed investment company, Investinor, also participated.
Unacast is actually headquartered in New York, with its founders moving to the US early to be close to the initial target market. It has 25+ US clients at this point, says co-founder and CEO Thomas Walle, who are using its location data platform for all sorts of purposes — from targeted marketing to footfall mapping for city, real estate and retail planning, and even for shorting stock. Existing clients include Amobee, Blis, SITO Mobile, Cognitiv, Qualia, and TVadSync.
Hedge funds are also among its customers, according to Walle — he says they’re using insights derived from the platform to estimate a company’s quarterly performance ahead of its earnings report for stock bets.
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