Endeit Capital, Beringea US and Unilever Ventures have joined together to provide $25 milliom in series B funding for location data technology company Blis.
The investment will help Blis – formerly known as Blismedia – to continue its expansion into new markets, including the US, as well as scaling international sales, marketing opportunities and enhanced core data engineering.
In the past six months, the business has opened offices in Dubai and Germany.
“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,” said Blis founder and chief executive Greg Isbister. “The investment recognises the unique value of location and Blis’ market-leading data platform.”
Blis, which provides location-based tech solutions to global brands including Airbnb, Ford and Samsung, says it is growing to match demand, with US location-targeted mobile ad spend predicted to be worth $11.3 billion in 2016, reaching $26.7 billion by 2020.
“Blis has created a leadership position in the global market through its pioneering use of location technology,” said Endeit Capital partner Martijn Hamann. “At Endeit, 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.”