Bluedot Raises $9.1 Million in Funding to Meet Surge in Customer Growth
Bluedot, which provides location technology for mobile apps to power high-value interactions between brands and their customers, announced the company has secured $9.1 million in Series B funding led by Autotech Ventures. The current raise brings the total funding for Bluedot to $21.9 million and includes participation by existing investor Transurban and new investors Forefront Ventures, IAG Firemark Ventures, and Mighty Capital. Alexei Andreev, managing director at Autotech Ventures, has joined the Bluedot board of directors, and Jennifer Azapian, a partner at Mighty Capital, has joined as a board observer.
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In addition, Bluedot also announced the launch of Tempo, a predictive time-based arrival technology that will allow marquee customer brands like Dunkin’ Donuts, KFC, McDonald’s, Transurban, On The Run, and others to receive real-time alerts to know when a consumer is approaching. The new product launch follows record growth for the company with a spike in customer growth of over 2,471 percent increase in unique monthly users in the last 12 months and an average of over 121 million high fidelity, first-party location events monthly.
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With Tempo, businesses will always be ready at the exact moment a customer enters a store, drives up to a curbside pickup spot, or arrives at a drive-thru window. Tempo is an advanced alternative to radius-based geofencing. The new product will take into account travel time, traffic patterns, topography, and real-life behaviors, such as how long it takes to get into a vehicle. It provides mobile-based data that can quickly transform businesses, driving towards more efficient operations in the wake of COVID-19.
“Software that can enable businesses to minimize contact is vital,” said Autotech Ventures’ Andreev. “Moving forward, we see the market favoring contactless solutions and Bluedot is poised to meet this demand. Bluedot’s differentiated offering, focus on consumer experience and scalability are key factors for any business’s future success, especially as we all rethink mobility and brand interactions.”
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