LOS ANGELES, CA, Factual, the location data company, today announced it raised $42 million from new and existing investors.
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Factual, the location data company, today announced it raised $42 million from new and existing investors, with participation from Upfront Ventures and Felicis Ventures, among others. The company will use the new funds to fuel international expansion, particularly in the Asia-Pacific (APAC) region, Factual's fastest-growing market. Factual will establish its APAC headquarters in Singapore, and has hired former Grapeshot (Oracle) executive Chris Pattinson to lead it. Factual will also use the funds to grow existing markets, deepen partnerships with brands, publishers and business analysts, and extend its data products into new channels, through connected TV and out-of-home partnerships. The raise brings Factual's total funding to $104 million.
As the world increasingly becomes data-driven, brands and businesses need accurate, reliable and accessible location data to develop smarter digital products and services. Over the last year, Factual's revenue has increased nearly 50 percent, and the company is now 200 people, tripling hiring across five worldwide offices. Leading global brands and technology companies, like BMW, Apple, Snap and Uber, trust Factual's independent location data to grow their customer base, develop more relevant products and make better strategic decisions.
"Ten years ago, we made a bet that businesses would require accessible location data to grow and innovate, but that for most of those companies, high-quality location data would be out of reach," said Factual CEO and Founder Gil Elbaz. "We are just at the beginning of this new data economy, and companies all over the world are relying on Factual. This injection of funds will help expand our reach and meet the increasing global demand for our data services."
In the last eight months, the company has seen significant growth in the APAC market, tripling its 2017 sales in the region without a local presence. Pattinson, who has 20 years of experience in media, strategic partnerships and regional expansion, will cement Factual's footprint in APAC and deepen partnerships in the region. Previously an executive at Grapeshot, which was acquired by Oracle in April, Pattinson led the company's multi-million dollar APAC business.
Pattinson will also drive further adoption of Factual's products with brands using Factual's data in regional countries to increase the effectiveness of digital campaigns, and establish the use of location data within emerging products and services.
"Advancements in mobile technology distribution, network coverage and emerging economic opportunities leave no doubt that the APAC market is primed for the innovations that a neutral data solution like Factual's will enable," said Pattinson. "I am thrilled to be leading the expansion of Factual's services into the region, helping brands and businesses discover the benefits that location data can provide."
Factual has provided location data in campaigns for more than 6,000 leading brands around the world, including 48 of the top 50 national advertisers per AdAge, powering audience insights, targeting and measurement. Four of the five top technology companies by market cap use Factual location data to build products and support innovative business decisions.
For more information about Factual and its data, products and partners, please visit www.factual.com.
Factual is the location data company the world's most valuable brands and technology companies trust to understand and intelligently grow their businesses. We help engineering teams, marketers and data analysts build the best digital products, deliver more impactful marketing and transform their businesses with the most accurate and comprehensive data on places and people worldwide. Factual's customers include Amazon, Apple, BMW, Google, Facebook, and Microsoft. For more information, visit www.factual.com, read our blog and follow us on Twitter or LinkedIn.