SAN FRANCISCO and MELBOURNE, Australia, April 23, 2018 /PRNewswire/ -- Bluedot Innovation, an advanced location services technology company, has secured US$5.5 million in Series A funding. Transurban, one of the world's leading urban toll road managers and developers, led the funding with an investment of US$4 million.
Bluedot enables enterprises to connect with their customers through highly relevant and personalized interactions based on the location and context of the customer. By combining best-in-class technology and focus on the behavior and needs of each individual user, Bluedot supports unprecedented contextual engagement, business intelligence and mobile commerce. Enterprises leveraging Bluedot's technology include Salesforce, News Corp and Cox Automotive.
In addition to Transurban, Bluedot has attracted a range of new and existing investors to participate in the round, including Jeff Katz, formerly of Mercury Payments, as well as their long-standing board member, David Jacques, the founding CFO of PayPal. To date, Bluedot has raised US$13 million in total funding.
Prior to this funding round, the company carried out over four years of R&D and engineered a product that is twenty-times more accurate than its competitors, leading to the release of its patented Geoline™ technology. This latest investment will double Bluedot's team at its San Francisco and Melbourne corporate headquarters as the company braces for rapid commercial growth, including the acquisition of enterprise customers and the expansion of their strategic partnerships with Transurban and Salesforce.
Bluedot will also continue to invest in cutting edge R&D projects to expand its platform and transform mobile-based location services internationally.
"We have, and will continue to deliver, unprecedented IP and technology that enables enterprises to interact with their customers in meaningful and personalized ways at scale," says Bluedot's co-founder, Emil Davityan. "The solutions we can power were not possible before. We're enabling enterprises to put customer experience at the center of their business, and to seamlessly transition between physical and digital."
In November 2017, Bluedot and Transurban teamed up to create LinktGO, a world-leading mobile tolling app that leverages a smartphone's GPS and other sensors to identify when a driver has entered and exited a toll road.
"Partnering with Bluedot has enabled the delivery of our innovative smartphone app, which is helping our customers easily manage their use of our roads while building in safeguards to promote road safety," says Transurban's General Manager of Customer Experience, Chris Jackson. "Our strategic investment in Bluedot ensures we're well placed to use location services technology to deliver new products for our customers that makes travelling with us a seamless experience."
Bluedot's proprietary and patented technology enables LinktGO to provide high accuracy of locations, while safeguarding battery usage, privacy and safety on customers' smartphones.
After building a successful working relationship with Bluedot, Transurban became the lead investor to assist in the technology company's expansion.
About Bluedot Innovation Bluedot Innovation offers a high accuracy and battery-friendly location service platform to enterprises such as Salesforce, News Corp and, Cox Automotive, enabling them to reach customers anywhere, drive mobile purchases, and understand customer behavior throughout their journey. Bluedot's patented location technology allows businesses to map out locations with Geoline™ tripwires or 5-meter geofences, 20x the accuracy of other location services. Through Bluedot's conditioning engine, clients target different audiences at an unlimited number of locations, without requiring additional hardware.